Silver lost ground with gold as investors sold bullish positions as the U.S. dollar firmed. Silver opened at 25586 on MCX and climbed marginally to a high of 25725. Trading volumes were very thin with range trading taking place throughout the day as the market waited patiently for economic data due later in the week. Some selling around early in the session as the equity markets pulled back took us to a low of 25150.  Silver finished the day at 25260. Now support for the silver is seen at 25032 and below could see a test of 24803. Resistance is now likely to be seen at 25607, a move above could see prices testing 25953.

Trading Ideas:

Silver trading range is 24803-25953.

Silver lost ground with gold as investors sold bullish positions as the U.S. dollar firmed

Silver is taking support at 25080 and resistance at 25390 level.

After the last week’s rally with the base metal rise yesterday we have seen fall in both.

SELL SILVER MAR @ 25350-380 SL 25465 TGT 25290-25222-25156-25090.MCX