Commodities
US Dollar Rebound Puts Pressure on Silver Prices Ahead of US Jobs Report
Silver prices are under pressure due to a rebound in the US Dollar, causing XAG/USD to fall by 1.73% to $60.95 on Thursday.
The stronger US Dollar makes Silver less appealing to holders of other currencies, while safe-haven flows continue to support the Greenback amid ongoing geopolitical tensions in the Middle East.
Investors are also keeping a close eye on developments in the Oil market, where hopes for supply disruptions easing have led to expectations of lower Oil prices.
The release of Friday's US Nonfarm Payrolls report is expected to play a key role in shaping expectations for the Federal Reserve's monetary policy path, with traders closely monitoring the reaction in US Treasury yields and the US Dollar following the NFP release.