Silver ended the week in positive from previous week getting support from rise in base metal prices. U. S. domestic silver mine production was 115,000 kilograms in October, up 13% from 102,000 kg in September and up 10% from 105,000 kilograms in October 2009, the U. S. Geological Survey said. Silver has continued its move higher this week to current 44516. The 43100 has proved an important pivot, with topside price action risk while this 42800 level holds. We see resistance at 44700 from the 61.8% of 46600 to 41300 move.

The Gold Silver Ratio has continued last weeks reversal off 49.62 to current level 46.25. Key support lies at 46.00, the low from December and January. The overall price formation in Gold Silver is quite bearish so risk for next week is a drop down to fresh lows. Now support for the silver is seen at 44458 and below could see a test of 44400. Resistance is now likely to be seen at 44572, a move above could see prices testing 44628.

Trading Ideas: Silver trading range is 44400-44628. Silver ended the week in positive getting support from rise in base metal prices Silver looks to take support at 44220 level and resistance at 44780 level. US domestic silver mine production was 115,000 kgs in October, up 13% from 102,000 kg in September