Silver Price Rises as US Dollar Weakness Continues
The US Dollar Index (DXY) has fallen to near 99.45, creating an unfavorable backdrop for the Nonfarm Payrolls (NFP) data for August.
The ADP reported that the private sector created 38K fresh jobs in August, fewer than 47K estimates and the prior release of 46K.
A lower US Dollar makes Silver a favorable risk-reward bet for investors, while a pause in the rally in US Treasury Yields has offered support to non-yielding assets like Silver.