Silver prices eased as the dollar traded within reach of an almost 14-year high hit on positive U.S. economic data. The dollar rallied after upbeat U.S. data and Wednesday's Federal Reserve minutes cemented expectations for a rate hike next month. The minutes from the Fed's November meeting said an interest-rate increase was possible "relatively soon" if data indicated that the economy is improving. Some Fed officials explicitly called for a rate hike in December, the minutes showed. Separately, data showed that U.S. durable goods orders rose at the fastest rate in a year in October and another report showed that a gauge of U.S. consumer confidence rose strongly in November. Prices of the metal had already come under pressure this month amid the view that increased U.S. fiscal spending under a Trump administration will spur economic growth and inflation, which would ultimately lead to an era of higher interest rates. Reflecting a boost in optimism following President-elect Donald Trump's surprise victory, the University of Michigan released a report showing an unexpected upward revision to its reading on consumer sentiment in the month of November. The University of Michigan said the final reading on its consumer sentiment index for November came in at 93.8 compared to the preliminary reading of 91.6. The Fed said a few participants advocated increasing rates at the November meeting, including voting members Kansas City Fed President Esther George and Cleveland Fed President Loretta Mester. Technically now Silver is getting support at 40117 and below same could see a test of 39921 level, And resistance is now likely to be seen at 40467, a move above could see prices testing 40621.

Trading Ideas:

Silver trading range for the day is 39921-40621.

Silver prices eased as the dollar traded within reach of an almost 14-year high hit on positive U.S. economic data.

The minutes from the Fed's meeting said an interest-rate increase was possible "relatively soon" if data indicated that the economy is improving.

Some Fed officials explicitly called for a rate hike in December, the minutes showed.