Silver on MCX settled down -0.45% at 39051 with weak sentiments amid strong U.S. economic data and a slightly lower dollar, as investors await a highly-anticipated appearance from Federal Reserve chair Janet Yellen for further signals on whether the U.S. central bank could raise interest rates at a closely-watched meeting next month. Yesterday from dat side the U.S. Labor Department said initial jobless claims fell by 10,000 for the week ended on May 20 to 268,000, slightly below market's expectations of 275,000.

Technically market is under fresh selling as market has witnessed gain in open interest by 1.44% to settled at 9873 while prices down -178 rupee, now Silver is getting support at 38829 and below same could see a test of 38607 level, And resistance is now likely to be seen at 39458, a move above could see prices testing 39865.content this no 9827808090.

                                        Trading Ideas Silver

Silver trading range for the day is 38607-39865.
         

The U.S. economy is set to grow by a 2.9% annualised rate in second quarter following the latest data on durable goods orders and advance goods trade showed  

         
The U.S. Labor Department said initial jobless claims fell by 10,000 for the week ended on May 20 to 268,000, slightly below expectations of 275,000.