Silver ended higher as the apparent resolution of Greece's latest debt problems reversed earlier losses on the back of stronger-than-expected U.S. employment data. Also lifting the metal was Greece's averting an immediate default after its bond swap offer to private creditors. The gold price is up 9 percent so far this year, building on 11 consecutive years of increases, after the Fed said in January it would keep rates near zero until at least late 2014. The Greek government said it had persuaded enough of its private-sector creditors to proceed with the largest restructuring of government debt in history. More than 83% of investors opted into the debt-swap deal, a figure that would rise to 95.7% after activation of special measures that would force the rest to follow suit. The Gold-Silver ratio closed the week at 50.00, still staying within the down channel that has been in place since late December. The next resistance is at the February high around 51.9. Now technically market is trading in the range as RSI for 18days is currently indicating 54.48, where as 50DMA is at 58032.14 and silver is trading above the same and getting support at 58958 and below could see a test of 58865 level, And resistance is now likely to be seen at 59189, a move above could see prices testing 59327.

Trading Ideas:

Silver trading range for the day is 58865-59327.

Silver ended higher as apparent resolution of Greece's latest debt problems reversed earlier losses

Also lifting metal was Greece's averting an immediate default after its bond swap offer to private creditors

The metal's midday rally was particularly impressive with the dollar index up more than 1 percent