Silver yesterday traded in a tight range and ended firm on increased offtake by industrial units and coin-makers. The Gold Silver ratio moved up to 59.78. Resistance lies at 60.77 and support at our target 58.41.Silver opened at 33162 rising to its high of 33258 as crude and equities made gains. Profit taking and declining base metals saw silver reach a low of 33043. Steady but quiet trading saw the metal close at 33173.Now support for the silver is seen at 33058 and below could see a test of 32943. Resistance is now likely to be seen at 33273, a move above could see prices testing 33373.

Trading Ideas:

Silver trading range is 32943-33373.

Silver yesterday traded in tight range and ended firm on increased offtake by industrial units

Silver is having resistance at 33273 and support at 33058 level.

Holdings at ishares silver trust fell by 3.59 tonnes to 9782.88 tonnes