Silver Rebounds from Post-NFP Low After Stronger-Than-Expected US Jobs Data

Silver rebounded above $66 after briefly falling below $65 in the immediate aftermath of the US jobs report. The employment data showed that US employers added 162K jobs in August, almost three times the 56K expected by markets.

The initial jump in the US Dollar loses momentum, allowing the precious metal to recover some ground. Silver (XAG/USD) trades around $66.20 at the time of writing on Friday, down 1.18% on the day, after recovering part of its sharp post-Nonfarm Payrolls decline.

The stronger-than-expected United States employment data boosted the US Dollar and Treasury yields. However, both the US Dollar and Treasury yields subsequently lose some momentum, helping XAG/USD rebound by more than $1 from its intraday low.