Silver Holds Steady Below 100-Day SMA Ahead of US Jobs Data

Silver (XAG/USD) showed a cautious stance on Friday, consolidating with marginal losses just below its 100-day simple moving average (SMA). This followed two consecutive days of gains as traders awaited the release of the US Nonfarm Payrolls (NFP) report.

According to FX Street, market participants refrained from making significant moves in silver ahead of the key US employment data, highlighting a wait-and-see approach amid heightened uncertainty. The NFP report often influences risk appetite and currency valuations, affecting precious metals like silver.

For Japanese investors, silver's subdued movement reflects broader cautious sentiment in global markets before major US economic announcements, which can impact yen crosses and commodity-linked assets in the FX and equities sectors.