Silver followed gold prices higher as participants were increasingly bullish ahead of the Fed meeting. As precious metals, both silver and gold often trade in tandem as investors buy or sell them for similar reasons. Silver once again opened on its low at 26820. Good buying took us to 27159 where some selling interest was seen. Range trading the rest of the day as the market awaited details from the FOMC. We closed at 27037. Gold Silver ratio has drifted up another 20 points to current 64.81. Now support for the silver is seen at 26852 and below could see a test of 26666. Resistance is now likely to be seen at 27191, a move above could see prices testing 27344.

Trading Ideas:

Silver trading range is 26666-27344.

Silver settled higher tracking higher gold and copper prices

Silver is taking support at 26910 on MCX and in spot support is at 17.32$

Gold Silver ratio has drifted to 64.49 level

BUY SILVER ABV 27060 SL 26980 TGT 27105-27145-27200-27240.MCX (EVE WEAK)