Silver prices zoomed to all time highs on speculation driven buying by stockists and traders amidst surging global valuations. Trading in the precious metals has turned into a casino-like activity for day traders in the wake of global bullishness.  Silver holdings were 0.1% higher, or 98,928 ounces, at 77.510 million ounces at Zurich Cantonal Bank. The Gold Silver ratio traded through our 58.41 target, the 2009 low (currently 58.36). The move lower in Gold Silver is our technical trade of 2010 and we would not be surprised to see this continue to 55.00.Now support for the silver is seen at 34167 and below could see a test of 33956. Resistance is now likely to be seen at 34543, a move above could see prices testing 34708.

Trading Ideas:

Silver trading range is 33956-34708.

Silver zoomed to all time highs on speculation driven buying by stockists and traders

Silver is having resistance at 34543 and support at 34167 level.

Holdings at ishares silver trust rose by 66.94 tonnes to 9944.14 tonnes