TopNews

Silver settled higher on a day that gold did likewise and the dollar softened. Global ETF holdings declined some last week, showing some let-up in investment demand. Silver opened the day on its lows at 27778. Buying interest came in as the Dollar weakened, taking the metal back up to its highs at 28230.

At that point took Silver to a close of 27847. Now support for the silver is seen at 27667 and below could see a test of 27486. Resistance is now likely to be seen at 28129, a move above could see prices testing 28410.

Trading Ideas:

Gold ended a touch higher despite the euro's gains, as the metal retreated from high posted earlier in the session due to technical selling and lingering concerns related to Greece's debt crisis. Gold opened on its lows at 16834. Weakening of the dollar had Gold reverse and traded up to an intraday high of 16977. Light trading saw the metal close at 16906. Now support for the gold MCX is seen at 16834 and below could see a test of 16763. Resistance is now likely to be seen at 16977, a move above could see prices testing 17049.

Trading Ideas:

Spring crop planting had begun in earnest in Texas and was getting under way in other states, the U. S. Department of Agriculture has said.

In Texas, 48 percent of the corn acreage is already planted, well ahead of North Carolina, which has 34 percent of its corn acreage seeded.

The average planting is less than 4 percent, in 12 other states among the top 18 corn-producing states.

Despite the dollar index falling 0.67 percent, crude oil for May delivery dropped below $85 a barrel in New York on Monday.

After European leaders offered concrete terms on loans to Greece, Oil prices started the day with an upswing.

Finance ministers of the 16-nation eurozone offered Greece $40 billion in loans, which are likely to be backed up by $20 billion in loans from the International Monetary Fund.

He would present a proposal to limit farm subsidies to the European Parliament, said European Union Agricultural Commissioner Dacian Ciolos.

The EUobserver reported on Monday that the proposal could prove divisive. Two years ago, a similar proposal was rejected by the EU member states. Last year, however, there was a vociferous public reaction when farm subsidies listed online revealed some large farms had received as much as $680,000 in subsidies annually.

U. S. Senate investigators has said that Washington Mutual executives made sub-prime home loans they knew were likely to fail and then bundled them into risky instruments.

The Los Angeles Times has reported that documentation released Monday by the Senate Permanent Committee on Investigations indicate WaMu executives knew in 2006 of trouble within the company's sub-prime unit, based in Southern California.