Silver settled down -0.21% at 43913 swung between small gains and losses on Monday, as concerns over the impact of the Federal Reserve's decision to begin tapering its stimulus program next month continued to weigh. Silver prices rallied on Friday as investors returned to the market to seek cheap valuations in wake of recent losses. While Comex silver prices plunged by 4.4% last Thursday, as investors liquidated positions after the Fed announced plans to begin tapering its monthly bond-buying program by USD10 billion in January. Some market participants believe the Fed will likely reduce its bond purchases by USD10 billion in each of its next seven meetings before ending the program in December 2014, amid indications of an improving U. S. economy. The Commerce Department said Friday that the U. S. economy expanded by 4.1% in the third quarter, well above initial estimates for 3.6% growth, adding to signs that the economic recovery is deepening. Also, the International Monetary Fund on Sunday raised its forecast for 2014 U. S. economic growth to 2.5%, up from the 1.6% it expects the country to grow this year. IMF Managing Director Christine Lagarde said on NBC's "Meet the Press" said that the recent budget deal in Washington and the Federal Reserve's decision to taper its bond buying program eased doubts about the future. Silver is down approximately 37% this year, as solid U. S. economic data underlined expectations the Fed will begin curbing stimulus. Technically market is under fresh selling as market has witnessed gain in open interest by 0.86% to settled at 10860 while prices down -94 rupee, now Silver is getting support at 43696 and below same could see a test of 43480 level, And resistance is now likely to be seen at 44132, a move above could see prices testing 44352.

Trading Ideas:

Silver trading range for the day is 43480-44352.

Silver ended with losses as some investors continued to mull the Federal Reserve's decision to reduce stimulus efforts.

Last week the Fed announced it would begin tapering its $85 billion in monthly bond purchases from next month.

U. S. consumer sentiment hit a 5-month high heading into the end of the year and spending notched up its strongest month since the summer