Silver settled up 0.61% at 43847 while stuck in a broader range of 43400-44200 after falling a day earlier as equities gained ground, with investors appearing to set aside for now geopolitical worries concerning Ukraine. Meanwhile Gold has gained about 9 percent this year, largely on tensions between the West and Russia over Ukraine, and violence in the Middle East. Also President Vladimir Putin said on Monday Russia is sending an aid convoy to eastern Ukraine despite urgent Western warnings against using humanitarian help as a pretext for an invasion. With Ukraine reporting Russia has massed 45,000 troops on its border, NATO said there was a "high probability" that Moscow could intervene militarily in the country's east, where Kiev's forces are closing in on pro-Russian separatists. Meanwhile, Israeli and Palestinian negotiators resumed indirect talks mediated by Egypt on Monday to end a month-old Gaza war, after a new 72-hour truce held for a day. In economic news, the OECD said its composite leading index points to stable growth momentum in the region. The composite leading indicators, designed to anticipate turning points in economic activity relative to trend, remained unchanged at 100.5 in June. Also According to CFTC net silver longs totaled 41,699 in the week ending 1st August, slightly lower than net longs of 46,221 contracts in the previous week. Technically market is under short covering as market has witnessed drop in open interest by -2.58% to settled at 8809 while prices up 267 rupee, now Silver is getting support at 43538 and below same could see a test of 43229 level, And resistance is now likely to be seen at 44032, a move above could see prices testing 44217.

Trading Ideas:

Silver trading range for the day is 43229-44217.

Silver stuck in range after falling a day earlier as equities gained ground, with investors appearing to set aside for geopolitical worries.

Global economic data has also been strong, dulling bullion's appeal as a safe haven asset.

Investors will be looking ahead to some Fed speeches and data on U. S. retail sales and consumer sentiment during this week.