Silver settled up 1.34% at 35663 rose with investors cautious ahead of next week's Fed meeting on interest rates. Support seen from the gain's from Basemetals which inched up on Tuesday to snap a five-day losing streak despite continuing woes in the Chinese economy and the timing of a potential interest rate hike by the Fed remain in focus. On the economic front, Chinese exports declined for the second straight month in August even after the devaluation of its currency and successive interest rate reductions. Imports also logged a double-digit decline, signaling some weak domestic demand. Also China's exports fell 5.5 percent year-on-year in August following the prior month's 8.3% decrease. Imports slid 13.8% after easing 8.1% in July. Imports were expected to fall at a slower pace of 7.9 percent. Consequently, China's trade balance showed a surplus of $60.24 billion in August, well above the expected level of $48 billion. Eurozone economy grew more than initially estimated in the Q2 as strong exports offset a decline in investment. For the most part, commodity traders are reluctant to execute any major trades before the FOMC completes its two-day September meeting on Sept. 17. Market believe there is a 50-50 chance the FOMC could raise its benchmark Fed Funds Rate for the first time since 2006. At a panel discussion late last month in Jackson Hole, Fed vice chairman indicated there is good reason to believe that inflation will move higher as the temporary forces restraining it continue to "dissipate further." Technically market is under short covering as market has witnessed drop in open interest by -4.11%, now Silver is getting support at 35152 and below same could see a test of 34640 level, And resistance is now likely to be seen at 36056, a move above could see prices testing 36448.

Trading Ideas:

Silver trading range for the day is 34640-36448.

Silver rallied tracking firmness in copper prices after Glencore announced plans to shut down its loss-making mines.

Friday's U.S. payrolls data failed to provide clarity on the timing of the Fed's first interest rate rise in nearly a decade.

The Fed should hold off on raising interest rates until the global economy is more stable, the World Bank's chief economist said.