Silver on MCX settled down -2.98% at 39824 sank to the level not seen since April 19 as investors digested the possibility of the Federal Reserve raising interest rates as early as next month.  Market players continued to price in the improved chances of multiple rate increases from the Federal Reserve this year following hawkish comments from the U.S. central bank on the likelihood of a June rate hike.

spot silver was likely to post is biggest weekly drop since March with a 3.5-percent decline, while spot platinum and spot palladium were on track for their biggest weekly declines in over four months.content this no 9827808090.

Technically market is under long liquidation as market has witnessed drop in open interest by -0.49% to settled at 10052, now Silver is getting support at 39339 and below same could see a test of 38855 level, And resistance is now likely to be seen at 40589, a move above could see prices testing 41355.