Silver settled down -0.54% at 44545 but overall market was steady as a string of U.S. data showed more strength in the recovery of the world's largest economy. The number of Americans filing new claims for unemployment benefits fell for the second consecutive week last week, suggesting a sharp step-down in job growth in December was likely to be temporary. The better labor market tone was also captured by a survey on Thursday showing an acceleration in manufacturing activity in the Mid-Atlantic region, accompanied by a rise in factory jobs. An economic recovery dims gold's appeal as a safe-haven investment and could prompt the Federal Reserve to continue with cutting back its bullion-friendly monetary stimulus. Earlier this week, the World Bank raised its forecast for global growth for the first time in three years as advanced economies started to pick up pace. Silver rallied this weej as Gold climbed early in the year on strong Chinese physical demand and a weak U.S. jobs report, which sparked speculation that the U.S. Federal Reserve could slow the pace of tapering its monetary stimulus. Fed bond purchases aim to spur recovery by suppressing long-term interest rates, thus keeping the dollar soft as long as they remain in effect and making gold an attractive hedge. Technically market is under fresh selling as market has witnessed gain in open interest by 1.79% to settled at 10301 while prices down -240 rupee, now Silver is getting support at 44321 and below same could see a test of 44097 level, And resistance is now likely to be seen at 44850, a move above could see prices testing 45155.

Trading Ideas:

Silver trading range for the day is 44097-45155.

Silver seen under pressure as data showing a strengthening U.S. labor market and improving regional manufacturing activity dampened buying interest.

The better labor market tone was captured by a survey showing an acceleration in manufacturing activity in the Mid-Atlantic region

World Bank raised its forecast for global growth for the first time in three years as advanced economies started to pick up pace.