950809

COMEX silver

higher in early trade

NEW YORK: COMEX silver rose in early trading as the market continued with its upward trend, floor traders and analysts said.

At 0911 EDT the active September contract was up 4.2 cents an ounce at $5.29, traded $5.31 to $5.265.

A floor source said stops were hit above $5.28 an ounce on the September contract, with the market looking at $5.32 as the next target area.

Locals were "on the long side" for August, the floor source said.

Scott Meyers of Redel Trading said the uptrend is still in tact with resistance levels pegged at $5.37 to $5.38 an ounce.-Reuter