Silver price faced challenges as traders adopt caution ahead of US Nonfarm Payrolls due on Friday. A softer US NFP report could support the Fed's adopting a less hawkish stance on its rate trajectory. Egypt has taken the lead in revitalizing stalled peace between Israel and Hamas, undermining the safe-haven Silver . The prices of the white metal faced challenges as traders exercised caution ahead of the Nonfarm Payrolls data from the United States due later in the day.
50% on Wednesday, signaling a continued inclination toward future rate cuts. The downside for the Silver price remains limited in the wake of the prevalent US Dollar selling bias, led by Fed Chair Jerome Powell's less hawkish remarks. Powell dismissed any further interest rate hike during the FOMC conference after the policy decision. This, in turn, acted as a tailwind for the Silver price.
XAGUSD Commodities Macroeconomics Silver
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