Silver gained marginally and settled up by +0.55% at 62656 despite of weakness in international market slipped -0.22% to $33.910 a troy ounce as anxiety over the euro zone debt crisis continues to weigh on the market, as it has lifted the dollar and weakened commodity prices. Rupee fell on the back of dollar demand from state-run oil refiners, with market awaiting the government's borrowing plans for the second-half of the year as a key indicator of its fiscal discipline. Pressure mounted after dollar rallied on New U.S. home sales held near two-year highs in August and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery. Meanwhile, Greece's international lenders clashed over how to solve Athens' debt crisis, threatening more trouble for the euro as the IMF demands European governments write off some of the Greek debt they hold. Spain will announce a series of economic reforms and a tight 2013 budget on Thursday, aiming to avoid the political humiliation of having Brussels impose conditions on a request for an international bailout. Now technically market is trading in the range as RSI for 18days is currently indicating 56.5, where as 50DMA is at 59542 and silver is trading above the same and getting support at 62061 and below could see a test of 61465 level, And resistance is now likely to be seen at 63021, a move above could see prices testing 63385.

Trading Ideas:

Silver trading range for the day is 61465-63385.

Silver weighed down by gains in U.S. dollar after data showed new U.S. home sales held near two-year highs in August

Greece's international lenders clashed over how to solve Athens' debt crisis, threatening more trouble for the euro

Holdings at ishares silver trust gained by 29.13 tonnes to 10046.12 tonnes