Silver retreats as US jobs data temper rate-cut expectations

💡 DMK Insight

Silver’s recent dip to $82.85 is a classic case of profit-taking after hitting $86.30 last week. Traders should note that while the current 1.95% drop may seem concerning, the bullish structure remains intact. This suggests that the pullback could be a buying opportunity for those looking to capitalize on the longer-term upward trend. Watch for support around the $80 level, which could serve as a key entry point if the price stabilizes. If silver can reclaim the $84 mark, it may signal a resumption of the bullish momentum, potentially pushing it back toward the recent highs. Keep an eye on broader market sentiment and any economic indicators that could impact demand for precious metals, as these factors could amplify price movements in the coming days.