Silver settled up 2.11% at 35527 surged amid a weaker dollar and muted US inflationary gains last month, ahead of the release of the FOMC's minutes from its July meeting on Wednesday. But Comex Silver gained smartly after prospects for a rate hike in September by the Federal Reserve appeared dim after the release of July meeting minutes. The latest Fed meeting highlighted concern over the state of the global economy, driving markets to question the likelihood that the Fed will raise rates next month. The minutes showed policymakers continued to express broad concerns about lagging inflation and the weak world economy even as the U. S. job market improved further. Market expectations for a Fed hike in September fell from one in two to roughly one in three after the minutes were published. In economic news, consumer prices in the U. S. saw a modest increase in July, although the pace of growth was short of estimates. Meanwhile, there was more good news for Athens after German lawmakers approved a third bailout of EUR 86 billion for Greece on Wednesday, which is likely to be finalized by Eurozone finance ministers later in the day, just in time to release funds to the latter to honor a payment to the ECB due on August 20. Silver tracking basemetals can seen limited upside as Chinese stock markets slumped 6% a day earlier amid growing concerns over the health of the Asian nation's economy and worries that policymakers may allow the yuan to continue to depreciate, fueling fears over a currency war that could destabilize the global economy. Technically market is getting support at 34877 and below same could see a test of 34227 level, And resistance is now likely to be seen at 35958, a move above could see prices testing 36389.

Trading Ideas:

Silver trading range for the day is 34227-36389.

Silver settled up 2.11% surged amid a weaker dollar and muted US inflationary gains last month, ahead of the release of the FOMC's minutes.

Gains are likely to see in today's session after prospects for a rate hike in Sept by the Fed appeared dim after the release of July meeting minutes.

Fed officials worried that lagging U. S. inflation and a weak global economy posed too big a risk to commit to "liftoff" on rates.