Silver settled down -0.12% at 41933 traded in the narrow range while sentiments improved as a lower dollar and lingering geopolitical tensions helped offset selling pressure from a record rally in U.S. equities. The dollar softened as traders focused on riskier assets, while speculation the ECB will resort to monetary stimulus also triggered some interest in bullion. On Wednesday, Ukraine accused Russian forces of launching a new military incursion across its border, a day after the leaders of both countries agreed to work toward ending a separatist war in the east of the country. Bullion was also supported after German consumer sentiment showed its biggest drop in more than three years. Also underpinning was ECB President Mario Draghi's call last week for more action on both the monetary and fiscal fronts. On Thursday, markets will move on U.S. gross domestic product data, weekly initial jobless claims and a report on pending home sales, with investors hoping the indicators will shed light on the pace of U.S. recovery as well as the future of monetary policy. Bullion has come under pressure recently on sentiments that the Federal Reserve remains on track to close up stimulus programs around October and begin raising interest rates in 2015. Earlier Wednesday, Bullion prices rose as the dollar fell after German FM said markets may have branded recent comments out of the ECB as overly dovish. Elsewhere, Ukraine continued to accuse Russian forces of crossing its border one day after leaders from both countries agreed to find ways to end the separatist war raging in the eastern reaches of the country. Technically market is getting support at 41772 and below same could see a test of 41612 level, And resistance is now likely to be seen at 42121, a move above could see prices testing 42310.

Trading Ideas:

Silver trading range for the day is 41612-42310.

Silver prices edged lower in listless trading ahead of a flurry of economic indicators due for release on Thursday.

The dollar softened as traders focused on riskier assets, while speculation ECB will resort to monetary stimulus also triggered some interest in bullion

Downside was limited after German consumer sentiment showed its biggest drop in more than three years.