Silver trading range for the day is 38626-40020.Silver prices dropped tracking weakness in base metals and crude oil prices as a leading dollar index revived its run to fresh 14-year highs. U.S. home resale’s unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market. Euro zone consumer confidence rose by more than economists had expected in December, figures released by the European Commission showed.
Gold trading range for the day is 26821-27291.Gold prices remained under pressure as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh. The Fed, which raised interest rates last week, signaled three more increases next year. SPDR gold trust holdings dropped by 0.43% i.e. 3.56 tonnes to 824.54 tonnes from 828.10 tonnes.