Silver settled up 0.21% at 43309 as a rout in emerging-market currencies increased demand for the metal as a haven. Prices seen under pressure after an upbeat report on U. S. consumer sentiment sparked demand for the dollar, though bottom fishers snapped up nicely priced position in the yellow metal and cushioned losses. In the U. S., the Thomson Reuters/University of Michigan final index of sentiment came in at 81.2 in January, beating expectations for 81.0 reading. Also in the U. S. official data revealed consumer spending rose 0.4% in December, beating expectations for a 0.2% reading, though personal income came in unchanged, missing expectations for a 0.0% gain. The numbers supported expectations for the Federal Reserve to continue winding down its monthly bond-buying program this year. Currently, the Fed is buying USD65 billion in Treasury and mortgage debt a month from banks, which weakens the dollar to spur recovery, making precious metals an attractive hedge. The program began in 2012, starting out at USD85 billion in Fed asset purchases a month. Solid U. S. data in recent weeks have pushed gold prices lower, though bottom fishers viewed the commodity as an attractive buy on weekend. Sales of silver coins almost tripled to 4.78 million ounces, the highest in a year, mint data showed. The International Monetary Fund urged central banks on Friday to ensure that a financial market rout in the developing world does not lead to an international funding crunch. Now Silver is getting support at 42985 and below same could see a test of 42661 level, And resistance is now likely to be seen at 43833, a move above could see prices testing 44357.

Trading Ideas:

Silver trading range for the day is 42661-44357.

Silver gained as a rout in emerging-market currencies increased demand for the metal as a haven.

Upbeat U. S. growth data reassured investors worried about capital outflows from emerging markets and also validated the Fed's.

Thomson Reuters/University of Michigan final index of sentiment came in at 81.2 in January, beating expectations for 81.0 reading.