Silver on MCX settled down -0.24% at 45726 as investors weighed concern about Europe’s banking woes against heightened expectations of a Fed rate increase in December.  The focus turned to increasing expectations that the U.S. Federal Reserve will raise rates by the end of the year. 

Fed-funds futures, used to bet on central-bank policy, showed investors assigned 61.6% likelihood to a rate increase in December, up from 52% the previous day, according to data. Official data showed that the third estimate of U.S. second quarter gross domestic product showed growth of 1.4%, revised from the previous reading of a 1.1% expansion.
Another report showed that U.S. initial jobless claims increased by 3,000 to 254,000 last week, compared to expectations for a 9,000 rise. 

Technically market is under long liquidation as market has witnessed drop in open interest by -11.46% to settled at 8249, now Silver is getting support at 45265 and below same could see a test of 44804 level, And resistance is now likely to be seen at 46538, a move above could see prices testing 47350. Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90.