Investing.com - Silver prices traded near the lowest level since August on Thursday, as growing expectations the Federal Reserve will start scaling back its stimulus measures in the near future weighed on sentiment. On the Comex division of the New York Mercantile Exchange, silver futures for March delivery traded at USD19.74 a troy ounce during European morning trade, up 0.4%. Comex silver prices held in a range between USD19.65 a troy ounce and USD19.80 a troy. The March contract settled 1.06% lower on Wednesday to end at USD19.68 a troy ounce. Comex silver fell to USD19.62 a troy ounce on Monday, the lowest since August 8. Futures were likely to find support at USD19.62 a troy ounce, the low from November 25 and resistance at USD20.14, the high from November 27. Silver prices were pressured on Wednesday after upbeat U.S. employment and consumer confidence data fuelled expectations the Fed will start to taper its stimulus program at one of its next few meetings. Prices of the precious metal are down approximately 35% this year on concerns the Fed would begin cutting back its easy-money policy by trimming its USD85-billion monthly bond purchasing program. Elsewhere on the Comex, gold for February delivery rose 0.1% to trade at USD1,242.50 a troy ounce, while copper for March delivery was little changed to trade at USD3.192 a pound. Trade volumes were expected to remain light on Thursday, with Comex floor trading scheduled to remain closed for the Thanksgiving Day holiday in the U.S. An abbreviated session was slated for Friday.

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