Silver on MCX settled down -0.34% at 39010 fell as investors continued to react to abstruse comments from Fed chair Janet Yellen on the strength of the global economy and the possibility of a summer interest rate hike. 

silver was up 0.6% at $16.48 an ounce, platinum rose 0.2 percent to $1,000.50 and palladium was 1 % higher at $559.53.

Technically market is getting support at 38740 and below same could see a test of 38469 level, And resistance is now likely to be seen at 39257, a move above could see prices testing 39503. 

                                       Trading Ideas

• Silver trading range for the day is 38469-39503.

• Silver dropped as investors continued to react to abstruse comments from Federal Reserve chair Janet Yellen on the strength of the global economy

• Holdings at ishares silver trust gained by 0.42% i.e. 44.36 tonnes to 10535.54 tonnes from 10491.18 tonnes.