Silver (XAG/USD) prices faced selling pressure near $32.70 during European trading hours on Friday (07/03). The white metal traded cautiously ahead of the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT.
The US NFP data will significantly influence market expectations regarding the Federal Reserve's (Fed) monetary policy outlook. Upbeat labor market data will increase market speculation that the Fed will keep interest rates steady in the current range of 4.25%-4.50% for a longer period. Conversely, a weak figure will weaken it.
Technically, the Fed's tight interest rate stance is a bad sign for precious metals, such as Silver.
The US NFP report is expected to show that employers hired 160,000 workers, up from 143,000 recorded in January. The Unemployment Rate is expected to remain steady at 4%. Investors will also focus on Average Hourly Earnings data, a key gauge of wage growth, which is expected to have grown steadily at 4.1% year-on-year.
Ahead of the US NFP data, the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, hit a fresh four-month low near 103.60. The 10-year US Treasury yield fell near 4.27%.
Meanwhile, global trade war tensions continue to provide support to Silver prices. On Thursday, US President Donald Trump confirmed the exemption of tariffs on products that fall under the United States-Mexico-Canada Agreement (USMCA) until April 2. Trump imposed a 25% tariff on imports from Canada and Mexico on Tuesday. (Newsmaker23)
Source: FXstreet
Silver prices (XAG/USD) reversed their decline on Wednesday (January 7th) after three sessions of surges. Silver fell around 2.5% to around US$79.27 per troy ounce in the latest trading session, marki...
The silver market remains firmly focused on the fundamentals that support today's high prices. Despite some corrections in recent days, the underlying structure of the silver market remains tight due ...
Silver rose to around $79 per ounce on Tuesday, marking a third consecutive session of gains and moving toward record levels. The US attack on Venezuela and the capture of President Nicolas Maduro add...
Silver prices strengthened today, January 2, 2026, as investor interest increased at the start of the year. Market sentiment was driven by persistently high global uncertainty, leading silver to regai...
Silver prices traded steadily on Wednesday, December 31, 2025, as the year draws to a close. Price movements tended to be limited as many investors opted to hold off amid low liquidity and a relativel...
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market...
The Nikkei 225 Index climbed 1.73% to close at 53,689, while the broader Topix Index rose 0.74% to 3,616 on Thursday, snapping a five-day losing streak as Japanese shares were lifted by a strong rally in chip and artificial intelligence related...