Silver price rises on Dollar weakness as markets await NFP report
Finance Silver price rises on Dollar weakness as markets await NFP report Silver (XAG/USD) extends its bullish momentum on Friday, trading around $80.85 at the time of writing, up 3.15% on the day. The white metal benefits from renewed weakness in the US Dollar (USD), while investors remain cautious amid geopolitical tensions in the Middle East and ahead of the United States (US) Nonfarm Payrolls (NFP) release. The US Dollar loses ground despite the latest exchange of attacks between the US and Iran near the Strait of Hormuz. Iran accused Washington of targeting Oil vessels and civilian areas, while the US reported missile and drone attacks against its naval forces. However, US President Donald Trump attempted to reassure markets on Thursday, stating that the ceasefire agreement remains intact. The softer USD environment is supporting demand for precious metals, including Silver, as a weaker Greenback makes dollar-denominated assets more attractive for international investors. Market participants are now focused on the US April NFP report, scheduled for release later on Friday. Economists expect the US economy to have added 62K jobs in April, significantly below the previous 178K increase recorded in March, while the Unemployment Rate is expected to remain stable at 4.3%. Investors will also closely