Silver rose above 45K as gold set a record high. Silver rose in a safe-haven play on the back of speculation U.S. authorities will extend monetary easing and lingering worries over euro zone debt. The rally in silver versus gold's gain has narrowed the gold-to-silver ratio to less than 48, its lowest level since the first quarter of 2007. Now technically market is trading in the range as RSI for 18days is currently indicating 70.88, where as 50DMA is at 39006.62 and silver is trading above the same and getting support at 44220 and below could see a test of 43888 level, And resistance is now likely to be seen at 44965, a move above could see prices testing 45378.

Trading Ideas:

Silver trading range is 43888-45378.

Silver rose above 45K as gold set a record high.

Silver is having resistance at 44780 and support at 44300 level.

Holdings at ishares silver trust rose by 38.01 tonnes to 10816.69  tonnes