Silver prices climbed to record highs on heavy stockists and speculative driven buying supported by surging international markets. Besides, sustained demand in the domestic markets for the ongoing festive and marriage season also helped silver to trade at record highs. The gold-to-silver ratio dropped to its lowest level since January, as the white metal outperformed gold in the last 30 days. Now support for the silver is seen at 32323 and below could see a test of 32084. Resistance is now likely to be seen at 32705, a move above could see prices testing 32848.

Trading Ideas:

Silver trading range is 32084-32848.

Silver prices climbed to record highs on heavy stockists and speculative buying

Silver is taking resistance at 32705 and support is at 32325.

Holdings at ishares silver trust rose by 73.04 tonnes to 9582.59 tonnes