Silver Surges to Weekly High After Weak US NFP Data
Silver climbed to the top of its weekly range on Thursday after weaker-than-expected US Nonfarm Payrolls data pushed the US Dollar to a two-week low.
XAGUSD
Silver (XAG/USD) rallied to the top of its weekly trading range on Thursday, driven by a sharp decline in the US Dollar following disappointing US Nonfarm Payrolls (NFP) data. The greenback slid to a two-week low, boosting demand for the precious metal.
At the time of writing, XAG/USD was trading around $61.15, up nearly 3.50% on the day. The weaker-than-expected employment report weighed on dollar sentiment, benefiting silver as an alternative asset.
Source: FXStreet Forex News