Silver continues to push higher, driven by a combination of macro and technical tailwinds. The latest US Nonfarm Payrolls (NFP) report showed weaker-than-expected job growth, reinforcing expectations that the Federal Reserve may stay on hold or even tilt dovish. As a result, the Dollar extended its slide, providing a strong tailwind for precious metals.
Gold remains firm near record highs, and Silver is starting to catch up, gaining momentum both as a safe-haven asset and an industrial metal. The weaker Dollar environment boosts Silver’s appeal, while softer labor data raises hopes for looser financial conditions ahead.
Equity markets are also rising, reflecting a positive outlook on economic growth and demand. This supports the industrial side of silver, especially with rising consumption in solar, electronics, and EV-related industries.
Technically, silver is testing resistance near USD 37.50. A clean break above this level could open the path toward USD 39.00 and beyond. While RSI suggests short-term overbought conditions based on the daily chart, dips toward USD 35.00 – 36.00 would likely attract buyers.
The combination of soft US data, weaker Dollar, strong Gold performance, and firm equity markets points to sustained upside potential. Watch for follow-through above USD 37.50 to confirm the next bullish leg.
Gold remains firm near record highs, and Silver is starting to catch up, gaining momentum both as a safe-haven asset and an industrial metal. The weaker Dollar environment boosts Silver’s appeal, while softer labor data raises hopes for looser financial conditions ahead.
Equity markets are also rising, reflecting a positive outlook on economic growth and demand. This supports the industrial side of silver, especially with rising consumption in solar, electronics, and EV-related industries.
Technically, silver is testing resistance near USD 37.50. A clean break above this level could open the path toward USD 39.00 and beyond. While RSI suggests short-term overbought conditions based on the daily chart, dips toward USD 35.00 – 36.00 would likely attract buyers.
The combination of soft US data, weaker Dollar, strong Gold performance, and firm equity markets points to sustained upside potential. Watch for follow-through above USD 37.50 to confirm the next bullish leg.
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