Silver traded in range as recent actions by U. S. President Donald Trump helped soothe investor worries about uncertainty surrounding the new administration’s controversial policies. U. S. economic data has stoked talk that the Federal Reserve would press ahead with U. S. interest rate hikes sooner rather than later. U. S. import prices rose more than expected in January, while initial jobless claims dropped unexpectedly last week to the lowest in nearly 43 years. U. S. consumer sentiment eased off a 13-year high in early February likely as some of the jubilation over Donald Trump's election victory ebbed, but it remained strong enough to suggest that consumers will continue to drive the economy. Japan's economy expanded for a fourth straight quarter in the October-December period as strong trade demand and a pickup in capital expenditure underscored a steady export-led recovery. Fed Vice Chair Stanley Fischer said there was significant uncertainty about U. S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent. A senior Japanese government spokesman said Abe and Trump did not discuss currency issues and that Trump did not request a bilateral trade deal. At a joint news conference with Abe, Trump avoided repeating harsh campaign rhetoric that accused Japan of taking advantage of U. S. security aid and stealing American jobs. Comments from Trump on Thursday that he plans to announce an ambitious tax reform plan in the next few weeks rekindled hopes for big tax cuts, offering broad support for the greenback. Technically now Silver is getting support at 42275 and below same could see a test of 42127 level, And resistance is now likely to be seen at 42651, a move above could see prices testing
42879.

Trading Ideas:

# Silver trading range for the day is 42127-42879.

# Silver traded in range as recent actions by U. S. President helped soothe investor worries about uncertainty surrounding the new administration’s controversial policies.

# U. S. economic data has stoked talk that the Federal Reserve would press ahead with U. S. interest rate hikes sooner rather than later.

# Speculators raised their bullish wagers in COMEX slightly in silver, U. S. Commodity Futures Trading Commission data showed.