Silver settled down -0.39% at 44941 after U. S. retail sales figures beat expectations for December and bolstered expectations for Fed to continue scaling back its bond-buying program. Prices were supported after disappointing U. S. jobs data stirred speculation the Federal Reserve will take a gradual approach to tapering its bond-buying stimulus this year. The U. S. Commerce Department said that retail sales rose by a seasonally adjusted 0.2% last month, beating expectations for a 0.1% increase. Retail sales for November were revised down to a 0.4% gain from a previously reported increase of 0.7%.Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Core retail sales, which exclude automobile sales, edged up 0.7% last month, above forecasts for a 0.4% increase. Core sales rose by 0.1% in November. Consumer spending accounts for as much as 70% of U. S. economic growth. Philadelphia Federal Reserve President Charles Plosser will speak on the economic outlook in Philadelphia, while Dallas Fed President Richard Fisher will give his outlook for the U. S. economy at a luncheon in Dallas. Atlanta Fed President Dennis Lockhart voiced his support of further tapering to the one already announced in December on Monday. The U. S. Mint said it sold 3,180,500 ounces of 2014 American Eagle silver investment coins on Monday, the first day of sale for such coins, representing nearly 90 percent of the Mint's weekly allocation limit of 3,575,000 ounces. Technically market is under long liquidation as market has witnessed drop in open interest by -0.95% to settled at 9557 while prices down -177 rupee, now Silver is getting support at 44528 and below same could see a test of 44116 level, And resistance is now likely to be seen at 45476, a move above could see prices testing 46012.

Trading Ideas:

Silver trading range for the day is 44116-46012.

Silver fell after U. S. retail sales figures beat expectations for December and bolstered expectations for Fed to continue scaling back its bond-buying program

Data showed that U. S. retail sales increased more-than-expected in December, while core sales also topped forecasts

Holdings at ishares silver trust dropped by -0.60% i. e. 59.87 tonnes to 9894.53 tonnes from 9954.40 tonnes.