Silver prices continuing its record-setting spree went past Rs 43,000 per kg level for the first time after the white metal surged to a fresh 30-year high in global markets. A firm trend in the spot market, where it climbed to record levels as well, too, influenced the prices. Silver opened the day on its low at40750. Strong gains in base metals and crude on increased demand from China saw silver trade higher as funds snapped up the metal, eventually reaching 43174 ahead of the close. Dollar strengthening saw silver give up its gains, eventually ending the session at 42652. Now support for the silver is seen at
41210 and below could see a test of 39768. Resistance is now likely to be seen at 43634, a move above could see prices testing 44616.

Trading Ideas:

Silver trading range is 39768-44616.

Silver ended higher tracking firm tend in overseas market and base metal prices

Silver is having resistance at 42820 and support at 42400 level.

Holdings at ishares silver trust rose by 112.53 tonnes to 10366.03 tonnes