Silver

Key insight

Silver has rallied roughly 8% in three sessions off its mid-$57 support, reclaiming the critical $60.00 level — but the July US Non-Farm Payrolls print on Friday will be the decisive near-term test of whether this breakout has legs or fades back below resistance.

Silver has surged from a mid-$57 support base to $62.13, breaking above the key $60.00 round-number resistance on Hormuz de-escalation optimism and a softening US dollar, with the 50-day MA now acting as a rising floor near $58.50.

Main risk

US Non-Farm Payrolls — Friday Release

A stronger-than-expected July jobs print could reignite Fed rate-hold hawkishness, driving the DXY higher and pressuring silver back below the $60.00 breakout level it just reclaimed.