Silver on MCX settled down -0.12% at 43955 as investors looked ahead to President Donald Trump's speech to Congress later. A handful of Federal Reserve policymakers on Tuesday jolted markets into higher expectations for a March U. S. interest rate increase, with comments that suggested rate-setters are worried about waiting too long in the face of pending economic stimulus from Washington. The U. S. economy expanded at a slower pace in the fourth quarter and appeared to remain on a moderate growth path as Trump took office with a promise to reinvigorate manufacturing and protect jobs. New orders for key U. S.-made capital goods unexpectedly fell in January after three straight months of strong gains, but did little to change views that manufacturing was recovering from a prolonged downturn amid rising commodity prices. Gross domestic product (GDP) rose at a 1.9% annual rate in the final three months of 2016, the Commerce Department said in its second estimate for the period. Analysts expected a 2.1% annual rate increase. The Consumer Confidence Index, which measures consumers’ assessment of current conditions in the U. S., hit 114.8 in February, according to data from The Conference Board. Economist expected the Consumer Confidence index to hit 111 in February. The mixed bag of economic data came amid renewed hopes of a March interest rate hike, after Dallas Fed President Robert Kaplan on Monday reiterated his view that a rate hike should come sooner rather than later. Technically market is under fresh selling as market has witnessed gain in open interest by 61.7% to settled at 10973 while prices down -52 rupees, now Silver is getting support at 43751 and below same could see a test of 43546 level, And resistance is now likely to be seen at 44115, a move above could see prices testing 44274.

Trading Ideas:

# Silver trading range for the day is 43546-44274.

# Silver prices dropped as investors looked ahead to President Donald Trump's speech to Congress later.

# The U. S. economy expanded at a slower pace in the fourth quarter and appeared to remain on a moderate growth path.

# Fed might need to raise interest rates in the near future to avoid falling behind the curve on inflation, Dallas Fed President Robert Kaplan said.