Silver dropped marginal down at 63277 and today also can be seen pressure as prices can fell as talk that France and Germany are at odds as to when the currency zone should centralize banking supervision sent the precious metal falling amid profit taking. Over the weekend, reports surfaced that Germany and France were at odds over a timeframe to centralize banking supervision, with Germany hoping to delay giving the ECB more power to oversee the eurozone's financial institutions. The news sent silver falling as investors took up long dollar positions on expectations that fresh policy snags that could further delay Europe's exit from its debt crisis. Silver has risen in recent weeks on the Fed's decision to roll out a third round of bond purchases from banks, a monetary policy tool known as QE. The ECB and the BoJ have unveiled similar monetary policy tools to jolt their respective economies. Silver had an interesting week soaring on the heels of gold but also well supported on the industrial side. Every time markets began to worry about growth and manufacturing, more stimulus money was offered helping increase future demands on the metals. Now technically market is getting support at 63099 and below could see a test of 62921 level, And resistance is now likely to be seen at 63507, a move above could see prices testing 63737.

Trading Ideas:

Silver trading range for the day is 62921-63737.

Silver ended lower tracking weakness in base metals and crude prices due to firmness in rupee

Market participants remain bullish on the precious metal, which tends to benefit from easy monetary policy.

EU and Spanish government are discussing economic changes necessary to help Spain qualify for a rescue program.