Silver on MCX settled down -0.15% at 42836 amid a rise in the dollar as market players awaited further hints on the timing of the next U.S. rate hike. San Francisco Fed President John Williams warned Tuesday that the global drop in interest rates since the financial crisis is likely to persist and will make it harder for central banks to keep world economies healthy.

Technically market is under long liquidation as market has witnessed drop in open interest by -6.29% to settled at 10610 while prices down -64 rupees, now Silver is getting support at 42525 and below same could see a test of 42213 level, And resistance is now likely to be seen at 43039, a move above could see prices testing 43241.   

                      Trading Ideas

*Silver trading range for the day is 42213-43241. 

*Silver dropped amid a rise in the dollar as market players awaited further hints on the timing of the next U.S. rate hike. 

*Data showed the U.S. Purchasing Managers Index (PMI) was at 53.9 in February, down from 55.6 in January and expectations for 55.8.  

*Holdings at ishares silver trust gained by 0.17% i.e. 17.68 tonnes to 10428.42 tonnes from 10410.74 tonnes.