Silver settled down -0.69% at 44121 tracking weakness from Gold prices which dropped after Portugal’s bailout of Banco Espirito Santo SA reduced concern the lender’s crisis may spread and as tension in Gaza eased, damping demand for a haven. US stocks rose on Monday after legendary investor Warren Buffett's company Berkshire Hathaway beat expectations, which cut into the need for safe-haven gold positions. Meanwhile, a second take on Friday's U.S. July jobs report left investors concluding the labor market continues to improve despite persistent slackness, which leaves the Fed on track to dismantling stimulus programs that have supported the Gold for years. The Labor Department reported Friday that the U.S. economy added 209k jobs in July, missing expectations for an increase of 233k, though July marked the sixth consecutive month that the U.S. economy created over 200k new payrolls. The report also showed that the U.S. unemployment rate ticked up to 6.2% last month from 6.1% in June. The unemployment rate does not include discouraged unemployed individuals who have given up actively searching for work, so a decision by many to look for jobs can send the headline rate higher, though it also suggests out-of-work Americans are more hopeful with their job prospects. Lastweek Silver was declining over the first four trading days of the week ending Jul 25 as safer assets lost their favor among investors. Nevertheless, the grey metal managed to rebound on Friday, closing at $20.64 that reduced weekly drop to 1.2%. Technically market is under fresh selling and getting support at 43926 and below same could see a test of 43731 level, And resistance is now likely to be seen at 44478, a move above could see prices testing 44835.

Trading Ideas:

Silver trading range for the day is 43731-44835.

Silver dropped as investors assessed the health of the U.S. economy and the timing of future interest rate hikes from the Federal Reserve.

A run of forecast-beating data, including strong U.S. wage growth, had fueled talk that the Fed could raise interest rates sooner than expected

Holdings at ishares silver trust dropped by 0.04% i.e. 4.38 tonnes to 10010.25 tonnes from 10014.63 tonnes.