Silver is finished its 5th up week in a row at 50101 due to fresh buying on hopes of a rise in spot demand amid firming trend in the global markets mainly pushed up silver prices to a record high. The metal reached our
50500 target this week. The trend remains higher so we see a break of 51000 yielding target 52000. Any retracement in Silver should find fresh buying back toward 48000. The Gold Silver ratio is closing unchanged on the week at 42.48 but the ratio did hit a fresh low at 41.28. Now support for the silver is seen at 49767 and below could see a test of 49433. Resistance is now likely to be seen at 50313, a move above could see prices testing 50525.

Trading Ideas:

Silver trading range is 49433-50525.

Silver ended the week above 50100 level due to fresh buying on hopes of a rise in spot demand

Silver looks to get resistance at 50400 and support at 49900 level.

In spot silver looks to hold support at 33.12$ and resistance at 33.60$.

Silver $ FIX is at : 32.54 & CURRENTLY SILVER $ IS TRADING AT : 33.46 & UP BY 0.36%