Silver prices ended with small gains but helped by a mild pullback from the U. S. dollar but remained amid growing expectations for a 2016 rate hike by Fed. The minutes from the Federal Reserve's September meeting showed several voting policymakers judged an interest rate hike would be warranted "relatively soon" if the U. S. economy continued to improve. The minutes of the Sept. 20-21 meeting, however, showed the depth of the divide on how much longer they should allow the labour market and inflation to improve before raising rates. The European Central Bank may discuss technical changes to its asset-buying scheme next week but a decision could be deferred until December when the bank will also decide whether to extend the scheme beyond March, sources familiar with the discussion said. Bank of England policymaker Michael Saunders said on Tuesday he would not be surprised if the pound fell further, but the BoE could overlook the effect of weak sterling on inflation, possibly for years. Bank of Japan policymakers signalled on Wednesday they had raised the threshold for further easing after last month's policy revamp - keeping their pledge to expand stimulus if needed, but only to protect the economy from external shocks. Technically market is under short covering as market has witnessed drop in open interest by -0.45% to settled at 15749 while prices up 53 rupee, now Silver is getting support at 41820 and below same could see a test of 41590 level, And resistance is now likely to be seen at 42215, a move above could see prices testing 42380.

Trading Ideas:

Silver trading range for the day is 41590-42380.

Silver prices ended with small gains but helped by a mild pullback from the U. S. dollar but remained amid growing expectations for a 2016 rate hike by Fed.

Fed minutes meeting, showed the depth of the divide on how much longer they should allow the labour market and inflation to improve before raising rates.

Holdings at ishares silver trust gained by 0.24% i. e. 26.57 tonnes to 11232.93 tonnes from 11206.36 tonnes.