Silver rose by +0.63% to settle at 63055 rebounded on renewed stimulus hopes and technical buying. Investors were jittery as Spain remained reluctant to request a bailout and trigger the ECB's new bond-buying program. Yields on Spain's benchmark 10-year govt bond topped 6% for the first time in three weeks on concerns the country will run into problems financing itself. Later in the day, Madrid was to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday.

Demonstrators clashed with police on the streets of Madrid and Athens in an upsurge of popular anger at new austerity measures being imposed on two of the euro zone's most vulnerable economies. The PBoC reportedly injected a record $58 billion, this week into the Chinese banking system, easing liquidity conditions ahead of the end of the current quarter and before the Golden Week holidays next week. Silver imports by China reached a 1year high in Aug, customs data show. The nation’s growth will accelerate to 8.5% vs 8% this year, the IMF estimates.

Hedge funds raised their net-long position to the highest since Feb. 28 in the week ended Sept. 18, holding a combined 30,986 futures and options, CFTC data show. Now technically market is getting support at 62428 and below could see a test of 61802 level, And resistance is now likely to be seen at 63503, a move above could see prices testing 63952.

Trading Ideas:

Silver trading range for the day is 61802-63952.

Silver ended with gains tracking firmness in gold and crude prices

Metals gained further after news that China's central bank had injected a record amount of cash this week

Silver imports by China reached a 1year high in Aug, customs data show the growth will accelerate to 8.5% vs 8%