Silver ended lower due to subdued demand at existing higher levels and weakening trend in global markets, as stronger dollar reduced appeal for precious metals as an alternative investment, which led to a fall in the prices. Silver closed above important 44000 level and still looks to retest 44300-44550 level. Silver opened the day at 44341. Gains in crude and base metals saw silver rise to an intraday high of
44385 earlier in the day. As with gold, dollar strength and an early session decline in treasuries took the metal to an intraday low of 43550. Rejuvenated buying interest saw the metal higher eventually closing the day at 44053. Now support for the silver is seen at 43607 and below could see a test of 43161. Resistance is now likely to be seen at 44442, a move above could see prices testing 44831.

Trading Ideas:

Silver trading range is 43161-44831.

Silver ended lower due to subdued demand at existing higher levels

Silver is having resistance at 44260 and support at 43840 level.

In spot silver looks to have a resistance at 29.32$ and support at 28.74$