Silver was up 2.1 percent at $39.76 resumed its rise on Wednesday after the last session's drop from record highs, as investors focused on economic uncertainty despite progress in talks on raising the U.S. debt limit and ahead of a euro zone summit aimed at resolving the region's debt crisis. Bullion remained higher after White House said it is open to a short-term deal extension to avert a U.S. default. Bullion has gained around 6 percent this month due to uncertainty over whether politicians will reach a deal to raise the $14.3 trillion U.S. borrowing limit before an Aug. 2 deadline. Despite signs of progress, bullion investors instead paid attention to the uncertain outcome in U.S. debt talks that have threatened the United States' top-notch credit rating. The White House shifted gears on Wednesday and signaled that President Barack Obama could support a short-term extension of the U.S. borrowing limits as long as it was part of a broader long-term deficit reduction deal. Silver was also supported after the head of the European Commission Jose Manuel Barroso said EU leaders must find a convincing solution to Greece's debt crisis at a summit on Thursday or the global economy will pay the price.Now technically market is trading in the range as RSI for 18days is currently indicating 64.59, where as 50DMA is at 55268.34 and silver is trading above the same and getting support at 57678 and below could see a test of 56176 level, And resistance is now likely to be seen at 60028, a move above could see prices testing 60876.           

Silver trading range is 56176-60876.

Silver was up 2.1% at $39.76 resumed its rise on Wednesday after last session's drop from record highs

Silver is having resistance at 60028 and support at 57678 level.

Holdings at ishares silver trust dropped by 60.62 tonnes to 9803.71 tonnes

BUY SILVER SEPT @ 58600-58720 SL 58400 TGT 58980-59160-59450.MCX

Silver $ FIX is at : 38.59 & CURRENTLY SILVER $ IS TRADING AT : 40.12 & UP BY 0.12%