Silver yesterday settled up 0.1% at 45165 as support seen from rupee weakness overall since last few day's market is trading in the same range, also pressure seen on silver as sentiment on the industrial metal was dampened following the release of data showing inflation in China accelerated at a faster rate than expected last month. Silver were under pressure falling to the lowest level of the day after data showed that the number of people who filed for unemployment assistance in the U. S. fell to the lowest level since January 2008 last week. Any improvement in the U. S. economy could scale back expectations for further easing from the Federal Reserve. 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. Gold's losses deepened after the U. S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 4 fell by 4,000 to a seasonally adjusted 323,000, compared to expectations for an increase of 8,000 to 335,000. Continuing jobless claims in the week ended April 27 fell to 3.005 million, the lowest since May 2008. Market had expected continuing claims to drop to 3.020 million from last week's revised figure of 3.032 million. Bullion prices were modestly lower ahead of the data, with investors hesitant to extend the previous session's strong gains as bearish chart signals remained intact. Now silver is getting support at 44791 and below same could see a test of 44418 level, And resistance is now likely to be seen at 45488, a move above could see prices testing 45812.

Trading Ideas:

Silver trading range for the day is 44418-45812.

Silver settled up as support seen from rupee weakness overall since last few day's market is trading in the same range

Any improvement in the U. S. economy could scale back expectations for further easing from the Federal Reserve.

The faster-than-expected increase in China's inflation rate dampened hopes policy makers in Beijing could introduce fresh easing measures