Silver covered +0.11$ on Saturday to settled at 61800 after dropped by -1.4% on Friday along with other metal commodities before a European finance ministers meeting on speculation the euro-zone debt crisis may continue to damp demand for raw materials. European finance ministers will meet in Luxembourg today, while German Chancellor visits Greece tomorrow for the first time since the crisis erupted. German data today may show industrial production and exports fell, adding to evidence Europe's debt crisis is damping growth and weakening the euro. Market predicted that the Fed will end QE3 ahead of schedule since the US nonfarm payrolls improved significantly. Such an expectation helped the dollar rose notably, capping bullion prices. Bullion prices are expected to extend losses today. Chinese demand for physical silver delivery hasn't changed that much, and actually most people are focusing on the Indian investors and their demand for silver instead. Silver is used both as a precious-metal investment and in applications that take advantage of its conductivity, including smartphones and semiconductors, which haven't seen an outright collapse in consumption, even in developed economies where the silver market is centered. Now technically market is trading in the range as RSI for 18days is currently indicating 51.18, and getting support at 61727 and below could see a test of 61654 level, And resistance is now likely to be seen at 61861, a move above could see prices testing 61922.

Trading Ideas:

Silver trading range for the day is 61654-61922.

Silver ended lower after the news broke on sentiment that not enough new jobs were created last month

Draghi said the central bank was ready to undertake Outright Monetary Transactions when the prerequisites are in place.

The number of unemployed Americans stands at 12.1 million, the fewest since January 2009.