Silver prices ended higher on pick up in demand for Diwali. Firming trend in overseas market further fuelled the uptrend. The Gold Silver ratio is largely unchanged at 56.12. We remain bearish while the ratio holds below 57.27.Silver opened at 35624. Following base metals and crude, silver traded lower reaching 35525 before renewed buying interest took the metal to its high of 36067. Unable to remain over the 36000 level, the metal slowly retrenched to its close at 35954.Now support for the silver is seen at 35630 and below could see a test of 35307. Resistance is now likely to be seen at 36172, a move above could see prices testing 36391.

Trading Ideas:

Silver trading range is 35307-36391.

Silver prices ended higher on pick up in demand for Diwali

Silver is having resistance at 36100 and support at 35780 level.

Holdings at ishares silver trust fell by 42.59 tonnes to 10181.46 tonnes.