Silver rose more that 1.5% yesterday with gold ongoing unrest in Egypt triggered large buy orders silver climbed 1.5 percent to $28.77 an ounce. Investment interest has been lackluster of late, as the market favored riskier investments such as equities at gold's expense on signs of an improving economy. Bullion investors are paying close attention to Friday's U.S. January nonfarm payroll data. Traders said that gold prices could retreat sharply if the data promotes an optimistic view of the economy. Now technically market is trading in the range as RSI for 18days is currently indicating 52.58, where as 50DMA is at 44138.06 and silver is trading below the same and getting support at 43402 and below could see a test of 42671 level, And resistance is now likely to be seen at 44542, a move above could see prices testing 44951.

Trading Ideas:

Silver trading range is 42671-44951.

Silver rose getting support from gold prices after the speech from chairman of the Federal Reserve

Silver looks to take support at 43960 level and resistance at 44320 level.

Holdings at ishares silver trust fell by 30.38 tonnes to 10370.22 tonnes

Silver $ FIX is at : 28.3 & CURRENTLY SILVER $ IS TRADING AT : 28.82 & DOWN BY -0.35%