Silver trading range for the day is 41107-41757.Silver dropped after prices seen supported earlier as political uncertainty created by U.S. Presidents move to ban people from seven Muslim-majority countries.Lackluster U.S. fourth-quarter growth figures also weighed on the greenback as it dampened expectations for a faster rate of interest rate hikes this year.The market for the precious metal has also been supported by sluggish U.S. economic data released on Friday.

Silver on MCX settled down -0.14% at 41372 dropped from the day's high on profit booking while earlier in the prices gained as signs of growing inflation and a steep decline in U.S. equities helped to raise investment demand in the precious metal. Traders also are bracing for a week full of economic data and a two-day meeting of the Fed to gain hints on where prices for the metal may head next. A closely watched reading on the labor market is due on Friday and a two-day meeting of the Fed is set to kick off Tuesday. Both key events, among others, could alter expectations for interest-rate increases and drive the dollar and assets pegged to it like bullion.