Silver has risen on record coin buying in a tight physical market and strong demand for industrial metals as the economy recovers. Silver is closing the week at fresh highs 53417. This is the sixth consecutive up session in Silver in a move that started at 42000. We see initial measured move objective of 53000. The Gold Silver ratio is making fresh multi year lows at current 40.35. Resistance now comes in at former key support 41.28. We remain bearish the ratio with initial target the 1998 low of 39.09. Now support for the silver is seen at 53056 and below could see a test of 52695. Resistance is now likely to be seen at 53622, a move above could see prices testing 53827.

Trading Ideas:

Silver trading range is 52695-53827.

Silver has risen on record coin buying and strong demand for industrial metals as economy recovers.

Silver looks to get resistance at 53680 and support at 53180 level.

Silver production in Peru fell 1.1% in January to 296421 kilograms compared to the year before period.