Silver settled down -0.59% at 44780 held a retreat from a three-month high as investors assessed the timing of U. S. interest-rate increases. Bullion prices continued to slump after the Department of Labor reported last week that non-farm payrolls rose by 288,000 in June, easily surpassing expectations for an increase of 212,000. The dollar firmed on the news by stoking expectations for the Federal Reserve to hike interest rates. However, by Monday trading after a holiday weekend in the U. S., profit takers wiped out the greenback's advance, though gold prices remained in negative territory amid uncertainty as to when the Fed will move. Many investors jumped to the sidelines to await the release of the minutes from the Federal Reserve's June policy meeting, which may hold clues concerning the direction of monetary policy. U. S. investment bank Goldman Sachs said it expected the Fed to raise interest rates in the third quarter of 2015 as opposed to the first quarter of 2016 made in an earlier prediction, though uncertainty ahead of the release of the Fed minutes on Wednesday steered investors away from the bullion. In last few week's Silver enjoyed a support pertaining to stronger investment demand compared to gold. Inventories in total known silver-backed ETFs climbed around 4.5% on a yearly basis compared to a 16% fall in gold holdings. Some support seen on Rupee fall as investors turned cautious ahead of the upcoming federal budget this week while lack of dollar inflows due to the U. S. Independence Day holiday also hurt. Technically market is under fresh selling as market has witnessed gain in open interest by 0.63% to settled at 7831 while prices down -268 rupee, now Silver is getting support at 44588 and below same could see a test of 44395 level, And resistance is now likely to be seen at 44962, a move above could see prices testing 45143.

Silver trading range for the day is 44395-45143.

Silver settled down held a retreat from a three-month high as investors assessed the timing of U. S. interest-rate increases.

Bullion prices continued to slump after the Department of Labor reported last week that non-farm payrolls rose.

Inventories in total known silver-backed ETFs climbed around 4.5% on a yearly basis compared to a 16% fall in gold holdings.

A strong U. S. economy could force the Fed to reconsider its pledge and raise rates sooner than expected, hurting bullion prices.

SELL SILVER SEPT @ 45000 SL 45350 TGT 44720-44540.MCX