Silver dropped a bit in the early part of the session on Wednesday, but continues to see a bit of support as we wait for the jobs report on Thursday. Silver continues to be very noisy to say the least.
Silver price today: Silver falls, according to FXStreet data
Silver traders are focused on Thursday's US Non-Farm Payrolls report, but the metal's next major move could begin a day earlier. After days of listless sideways trading, Silver has failed to generate any meaningful recovery despite stabilizing above recent lows.
Silver Price Forecasts: XAG/USD dips below $58 weighed by higher US yields
Silver Price Forecast: XAG/USD declines below $58 amid uncertainty over US-Iran peace prospects
Silver prices are coiling in a four-day range as traders await Warsh and NFP. See key support, resistance and the breakout levels to watch.
Silver Price Forecast: XAG trapped below $60 as bears eye $55
Silver tends to move with the idea of what the US dollar is doing, and right now, the US dollar is doing very well. This will continue to pressure silver for the time being.
Oil has returned to the levels seen before the armed conflict in the Middle East much sooner than expected. Brent's fall of almost 40% from its March highs is not solely due to more barrels coming from the Persian Gulf.
Silver rebounds as Fed rate hike expectations cap gains before US labor data
Silver price today: Silver rises, according to FXStreet data
Silver Price Forecast: XAG/USD finds cushion near $56.60, eyes on US JOLTS Job Openings data