Silver yesterday ended positive tracking firmness in base metal prices which supported the silver prices. Data from the U.S. Mint showed its silver bullion coin sales were up nearly 20 percent in the first 10 months of this year from a year before, to 28.1 million ounces from 23.4 million. The Gold Silver ratio remains close to its years low at current 54.52. This ratio is under pressure with minor support seen at 54.35 and then major at 51.47.Silver opened the day at 37090. The metal also saw a day of range trading. Rising to its high of 37250 as base metals made gains, silver turned lower as profit taking took the metal to its low of 36905. As with gold, choppy late day trading saw the metal close at 37167.Now support for the silver is seen at 36965 and below could see a test of 36762. Resistance is now likely to be seen at 37310, a move above could see prices testing 37452.

Trading Ideas:

Silver trading range is 36762-37452.

Silver yesterday ended positive tracking firmness in base metal prices

Silver is having resistance at 37310 and support at 36965 level.

Holdings at issares silver trust fell 4 tonnes to 10137.92 tonnes.