Silver gained as the dollar fell and U. S. Treasury yields came off their highs after Donald Trump was sworn in as U. S. president. Trump pledged to end the "American carnage" of social and economic woes in an inaugural address that was a populist and nationalist rallying cry, prompting investor concern about protectionist trade policies. Prices shrugged off better-than-expected U. S. jobs, housing and factory data that reinforced the view that the U. S. economy is sufficiently robust to warrant interest rate rises. Philadelphia Federal Reserve President Patrick Harker said he expected three interest rate increases in 2017 if the labor market improves further and inflation moves to the Federal Reserve's 2 percent goal. Yellen said that "allowing the economy to run markedly and persistently `hot' would be risky and unwise," before adding: "I consider it prudent to adjust the stance of monetary policy gradually over time." The greenback also initially strengthened following the release of strong U. S. jobless claims and housing starts data, as well as an upbeat Philly Fed manufacturing activity report on Thursday. A stronger dollar makes gold, denominated in greenbacks, more expensive in other currencies, particularly the world's top two buyers, India and China. On Friday data showed that China's gross domestic product rose 6.8% in the fourth quarter of 2016, in line with expectations. Year-on-year, China's economy grew at a rate of 6.8%, slightly above expectations for a growth rate of 6.7%. Technically market is under short covering as market has witnessed drop in open interest by -0.65% to settled at 13024 while prices up 155 rupee, now Silver is getting support at 41150 and below same could see a test of 40874 level, And resistance is now likely to be seen at 41654, a move above could see prices testing 41882.

Trading Ideas:

Silver trading range for the day is 40874-41882.

Silver gained as the dollar fell and U. S. Treasury yields came off their highs after Donald Trump was sworn in as U. S. president.

Trump pledged to end the "American carnage" of social and economic woes in an inaugural address that was a populist and nationalist rallying cry.

Fed's Harker said he expected three interest rate increases in 2017 if the labor market improves further and inflation moves to Fed's 2 percent goal.