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Commodities

Silver Surges 4% as Weak US Payrolls Weigh on Dollar

Guavy AI Editorial Team
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Silver
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Weak US payrolls data weighed on the US Dollar and Treasury yields, causing Silver prices to surge nearly 4% on Friday.

The XAG/USD pair broke above its 50-day Simple Moving Average (SMA) near $62, with momentum indicators pointing to firm bullish momentum.

The price of Silver climbed as high as $65 before pulling back slightly, but technical analysis suggests that a sustained break above this level could open the way for further gains towards the higher horizontal resistance near $75.

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