Silver Price Holds Steady Amid Weaker US Dollar

The price of silver remains flat today at $65.85, registering a modest daily gain of 0.82%. This stability comes despite a weaker US Dollar following soft US private sector job demand. The dollar's weakness tends to increase interest in dollar-priced commodities like silver.

Broader currency moves resulting from labor market data continue to impact flows within the silver market. The current technical signals and currency-driven momentum point to a higher probability of further upside for silver.

In the short term, silver is expected to trade within a volatility band of $64.11 to $67.59 over the next two to three sessions. A bullish breakout above $67.59 could trigger further gains, while a failure to hold support at $64.11 would open the door for renewed selling pressure.