Silver prices settled flat as traders continued to focus on President Donald Trump for further details on his promises of tax reform, infrastructure spending and deregulation. U. S. home resales fell more than expected in December as the supply of houses in the market dropped to levels last seen in 1999, but the housing market recovery remained intact against the backdrop of a tightening labour market. The European Central Bank could soon start planning an exit from its unprecedented stimulus programme, Executive Board member Sabine Lautenschlaeger said on Tuesday, a rare public discussion of ending its asset buying scheme. Trump formally withdrew from the Trans-Pacific Partnership trade deal on Monday and told U. S. manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas. Trump on Tuesday also signed orders smoothing the path for the controversial Keystone XL and Dakota Access oil pipelines in a move to expand energy infrastructure and roll back key Obama administration environmental actions. The euro zone started 2017 by maintaining solid economic growth as a weaker currency boosted orders for goods and services, a survey showed, but rising political risks could soon take their toll. Holdings at ishares silver trust dropped by 0.28% i. e. 29.48 tonnes to 10494.58 tonnes from 10524.06 tonnes. Technically market is under short covering as market has witnessed drop in open interest by -0.86% to settled at 13105 while prices up 26 rupee, now Silver is getting support at 41545 and below same could see a test of 41373 level, And resistance is now likely to be seen at 41909, a move above could see prices testing
42101.

Trading Ideas:

# Silver trading range for the day is 41373-42101.

# Silver prices settled flat as traders continued to focus on President Donald Trump for further details on his promises of tax reform, infrastructure spending and deregulation.

# The euro zone started 2017 by maintaining solid economic growth as a weaker currency boosted orders for goods and services, a survey showed

# Holdings at ishares silver trust dropped by 0.28% i. e. 29.48 tonnes to 10494.58 tonnes from 10524.06 tonnes.