Silver yesterday ended higher tracking firmness in base metal and crude oil prices. Also Firming trend at the domestic markets on the back of ongoing festive and marriage season demand supported the uptrend. The Gold Silver ratio dropped from a high of 57.31 to current 56.38. The October closing low of 55.80 represents an important support. Silver opened at 35554 and made a low of 35169. It was a quiet for the metal but quickly changed as base metals and crude made strong gains on the good economic data, taking silver through stops around the 35750 level eventually reaching its high of 36037. The metal ended the day at 35971.Now support for the silver is seen at 35414 and below could see a test of 34858. Resistance is now likely to be seen at 36282, a move above could see prices testing 36594.

Trading Ideas:

Silver trading range is 34858-36594.

Silver prices settled higher tracking firmness in base metal and crude oil prices.

Silver is having resistance at 35620 and support at 35340 level.

In spot silver looks to have a support at 23.82$ and resistance is at 24.28$