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Silver on MCX settled down -0.09% at 40045 traded in the range as investors prepared for a rate hike by the Fed while awaiting what Chair Janet Yellen says about the future path of interest rates. While Comex Silver rose 2.3 percent at $17.22 an ounce as the Fed raised interest rates but kept its rate hike outlook on hold through 2019. Overnight, the market noted the widely expected fed rate hike of 0.25% on Wednesday by the FOMC, which marked the highest Fed Funds rate since October 2008, with up to three increases seen this year.
*Silver trading range for the day is 39682-40298.
*Silver prices gained shrugging off a Fed rate hike and language that suggested at least two more ahead this year.
*The Labor Department said consumer prices rose 0.2% in February, while the Commerce Department said retail sales climbed 0.1%.