Investing.com - Silver futures rebounded from the previous session’s sharp losses on Wednesday, as investors returned to the market to seek cheap valuations after prices fell to a three-week low amid easing concerns over a U.S. military strike against Syria. On the Comex division of the New York Mercantile Exchange, silver futures for December delivery traded at USD23.14 a troy ounce during European morning trade, up 0.55%. Silver prices traded in a range between USD22.79 a troy ounce, the session low and the weakest level since August 22 a daily high of USD23.24 a troy ounce. The December contract settled 2.95% lower at USD23.01 a troy ounce on Tuesday. Silver prices were likely to find support at USD22.45 a troy ounce, the low from August 22 and resistance at USD24.13, the high from September 8. In an address to the nation late Tuesday, President Obama said that he had asked Congress to postpone a vote on taking military action against Syria. Instead, Obama said that he will explore a plan proposed by Russia for Syria to place its chemical weapons under international control. Meanwhile, investors continued to speculate over the timing of the Federal Reserve’s widely expected reduction in monthly bond purchases following last week’s weaker-than-forecast U.S. jobs report. Silver traders have closely been looking out for U.S. data reports recently to gauge if they will strengthen or weaken the case for the Fed to reduce its bond purchases. The central bank is scheduled to meet September 17-18 to review the economy and assess policy. Moves in the silver price this year have largely tracked shifting expectations as to whether the U.S. central bank would end its bond-buying program sooner-than-expected. Elsewhere on the Comex, gold for December delivery inched up 0.25% to trade at USD1,367.10 a troy ounce, while copper for December added 0.4% to trade at USD3.275 a pound.

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