Investing.com - Silver futures were little changed in rangebound trade on Wednesday, as market players continued to weigh the need for further stimulus in the U.S. following the release of upbeat economic data on Tuesday. Silver, like gold, can benefit from such an environment of easy money because of expectations that ample liquidity would put a damper on the value of paper currencies. On the Comex division of the New York Mercantile Exchange, silver futures for July delivery traded at USD22.23 a troy ounce during European morning trade, up 0.2% on the day. Comex silver prices held in a tight range between USD22.13 a troy ounce, the daily low and a session high of USD22.41 a troy ounce. Silver prices were likely to find support at USD21.92 a troy ounce, the low from May 23 and resistance at USD23.12, the high from May 20. Silver prices lost 1.4% on Tuesday after data showed that U.S. consumer confidence rose to the highest level since February 2008 in the current month. The Conference Board said its index of consumer confidence rose to 76.2 in May from 69.0 in April and beating expectations for a reading of 71.0. A separate report showed that the Case-Shiller U.S. home price index rose 10.9% in March from a year earlier, the biggest increase since April 2006. The robust data boosted expectations that the Federal Reserve will wind down its USD85 billion-a-month asset purchase program later this year. Elsewhere on the Comex, gold for June delivery added 0.45% to trade at USD1,385.85 a troy ounce, while copper for July delivery fell 0.9% to trade at USD3.286 a pound. Copper prices came under pressure after the International Monetary Fund cut its estimate for China's economic growth in 2013 and 2014. China is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.

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