Silver rallied to all time high as a tumbling dollar gave a boost to commodity prices across the board. The Gold Silver ratio traded as low as 55.66 before recovering to current 56.36. Visually we like the 55.66 number, but are not ready to pick the bottom on this great bearish ratio trade. U.S. silver imports rose 55.2% in August from the previous month, and was up 70.2% from the previous year, the Commerce Department reported. Now support for the silver is seen at 35857 and below could see a test of 35254. Resistance is now likely to be seen at 37000, a move above could see prices testing 37540.

Trading Ideas:

Silver trading range is 35254-37540.

Silver rallied to all time high as a tumbling dollar gave a boost to prices

U.S. silver imports rose 55.2% in August from the previous month

Holdings at ishares silver trust rose by 38.03 tonnes to 10163.20 tonnes