Silver on MCX settled down -0.04% at 44496 traded in the range tried to recover from the losses after having fallen by more than 2 percent to its lowest in more than seven weeks on Monday as markets shifted focus from hawkish comments by a Federal Reserve official at the weekend to a meeting of global central bankers this week, awaiting further guidance on U.S. interest rates. As Silver prices now holding around $19.00 and will remain sensitive to even small moves in the gold price.

Technically market is getting support at 44338 and below same could see a test of 44179 level, And resistance is now likely to be seen at 44768, a move above could see prices testing 45039.  

                            Trading Ideas

1. Silver trading range for the day is 44179-45039.

2. Silver settled flat ahead of a speech by Fed’s Janet Yellen later this week that could provide clues about the timing of a U.S interest rate hike.  

3. Data showed new U.S. single-family home sales unexpectedly rose in July, reaching their highest level in nearly nine years.   

4. The Fed last week sent mixed messages in the minutes of its July meeting, though some members have suggested that rates could rise in September

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