Silver rebounds strongly as solid US jobs data tempers rapid Fed rate cut expectations

💡 DMK Insight

Silver’s recent 3.65% jump to $83.90 is a key indicator for traders right now. The market’s reaction to the solid US employment report shows that traders are weighing economic strength against inflation concerns. A stronger dollar typically pressures precious metals, but silver’s resilience suggests buyers are stepping in, possibly anticipating further inflationary pressures or geopolitical tensions. For those trading silver, watch for a potential breakout above $84, which could signal further upside momentum. Conversely, if it fails to hold above this level, a pullback could be in play, especially if the dollar gains strength again. It’s also worth noting that silver often moves in tandem with gold, so keep an eye on XAU/USD for correlated movements. If gold starts to rally, silver could follow suit, amplifying gains. Traders should monitor the daily close—holding above $83.90 could set the stage for a bullish trend, while a drop below might trigger stop-losses and exacerbate selling pressure.