Silver settled up 0.68% at 33708 supported by the retreating U.S. dollar and a tumble in global equities as traders awaited U.S. employment data seen as key to determining when the Fed may raise interest hikes. Traders are eyeing on US non-farm payrolls data are due on Friday and economists polled by Reuters predict employment in July increased at the same pace as June's 223,000 rise. Investors have abandoned bullion during a broad commodities sell-off and on expectations that the Fed may raise interest rates as early as next month. The looming rise in U.S. rates dims the appeal of non-interest yielding gold, instead pulling more funds towards the dollar. Data on Thursday showed the number of Americans filing new applications for unemployment benefits rose less than expected last week. Expectations that the Fed could increase rates at its next policy meeting in September gained ground this week after Atlanta Federal Reserve President Dennis Lockhart said only a "significant deterioration" in the U.S. economy would make him not support a rate rise next month. But Fed Governor Jerome Powell said policymakers had not yet decided whether to raise rates next month, adding that more recent employment data had been mixed. The greenback has been boosted recently by expectations that the improving U.S. economy will prompt the Federal Reserve to raise short term interest rates as early as September. Data on Wednesday showed that service sector activity in the U.S. grew at the fastest pace since August 2005 in July. Technically market is getting support at 33456 and below same could see a test of 33205 level, And resistance is now likely to be seen at 33872, a move above could see prices testing 34037.

Trading Ideas:

Silver trading range for the day is 33205-34037.

Silver rebounded to end higher following a sell-off in major global equity markets ahead of the crucial weekly employment data.

Data on Thursday showed the number of Americans filing new applications for unemployment benefits rose less than expected last week.

U.S. non-farm payrolls data are due on Friday and predicted employment in July to increase at the same pace as June's 223,000 rise.