Silver settled flat as dollar steadied, amid a mixed batch of U. S. economic data, ahead of a key House vote on a healthcare bill to repeal and replace Obamacare. San Francisco Federal Reserve President John Williams said Thursday that the economy is in a good place and that the U. S. central bank should continue to raise interest rates this year as fast as or faster than it has signaled it would. Dallas Federal Reserve Bank President Robert Kaplan said the U. S. central bank should be moving "deliberately but patiently" to remove monetary policy accommodation, as long as the economy continues to make progress toward the Fed's goals. Federal Reserve Chair Janet Yellen did not address monetary policy or the economic outlook in prepared remarks for a childhood education conference in Washington. The Commerce Department said new home sales increased 6.1 % to a seasonally adjusted annual rate of 592,000 units last month compared to expectations of a 0.7% increase to 565,000 units. Elsewhere, initial jobless claims increased by 15,000 to 258,000 in the week ending March 18 from the previous week’s revised total of 243,000 against expectations of a drop by 1,000 to 240,000. The European Central Bank said that economic recovery in the euro zone was gaining ground while data last week indicated strong U. S. factory output, a rebound in U. S. consumer sentiment and a rise in European car sales in February. Technically market is under short covering as market has witnessed drop in open interest by -2.35% to settled at 13409 while prices up 67 rupees, now Silver is getting support at 41145 and below same could see a test of 40989 level, And resistance is now likely to be seen at 41477, a move above could see prices testing 41653.

Trading Ideas:

# Silver trading range for the day is 40989-41653.

# Silver settled flat as dollar steadied, amid a mixed batch of U. S. economic data, ahead of a key House vote on a healthcare bill to repeal and replace Obamacare.

# Fed’s Kaplan reiterated his economic forecast for above 2 percent growth for this year, and said the U. S. labor market is relatively tight.

# Economic recovery in the euro zone is gaining ground and some data points to robust momentum in the first quarter despite uncertainty over Brexit.