Silver surged to record high on frantic buying by stockists, triggered by an overseas rally. ETF holdings jumped to another record also supported the prices. The world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its holdings rose to a record of 9,786.47 tonnes by Sept 29 from 9,756.04 tonnes on Sept 28. now technically market is in overbot as RSI for 18days is currently indicating 77.53, where as 50DMA is at 30685.96 and silver is trading above the same and getting support at 33014 and below could see a test of 32829 level, And resistance is now likely to be seen at 33356, a move above could see prices testing 33513.

Trading Ideas:

Silver trading range is 32829-33513.

Silver surged to record high on frantic buying by stockists

Silver is having resistance at 33356 and support at 33014 level.

Holdings at Ishares silver trust rose by 30.43 tonnes to 9786.47 tonnes