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Commodities

Silver Price Surges Ahead of US NFP Data Release

Guavy AI Editorial Team
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Oil Silver
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The price of Silver (XAG/USD) has risen to near $62.20 in anticipation of the US Nonfarm Payrolls (NFP) data for July, which will be released at 12:30 GMT on Friday.

TD Securities expects a modest rebound in July's jobs report after June's surprise decline, with a predicted increase of 70k new jobs and an unemployment rate holding steady at 4.2%.

The NFP data will likely influence the Federal Reserve's interest rate expectations, with higher oil prices due to increased tensions in the Middle East also limiting Silver's upside potential.

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