{
  "id": 270643,
  "title": "Silver Price Forecast: Weak US payrolls fuel breakout above 50-day SMA",
  "url": "https://urgent.news/2026/08/07/silver-price-forecast-weak-us-payrolls-fuel-breakout-above-50-day-sma",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T14:04:15.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/silver-price-forecast-weak-us-payrolls-fuel-breakout-above-50-day-sma-202608071404"
  },
  "original_language": "en",
  "account": "Silver (XAG/USD) surged nearly 4% on Friday, breaking above the 50-day Simple Moving Average (SMA) around $62. Currently, the metal is valued at $63.94, having briefly touched the psychological $65 mark. The rise follows weak US Nonfarm Payrolls data, causing US Dollar (USD) levels and Treasury yields to fall. The US Dollar Index (DXY) sits at 99.50, down about 0.45% for the day. US job growth for July was revised downward to 23K, well below the anticipated 80K. Consequently, traders have reduced expectations of a September Fed rate hike, dropping to around 42% from 67% a week earlier, according to the CME FedWatch Tool. Lower interest rates diminish the opportunity cost of holding non-yielding assets like Silver. On the daily chart, XAG/USD shows a bullish near-term outlook, as it trades above the 21-day and 50-day SMAs. Momentum supports this outlook with the Relative Strength Index (RSI) in the low-60s and the MACD indicator moving into positive territory with a strong bullish spread and expanding histogram. The next resistance lies at $65, followed by the 100-day SMA at $69. A break above this cluster could open the path to the higher resistance near $75. Conversely, immediate support is at the 50-day SMA ($62) and the psychological $60 level, with the 21-day SMA at $58 and the $55 horizontal level forming a deeper demand zone.",
  "summary": "Silver (XAG/USD) jumps nearly 4% on Friday as buying accelerates following a decisive break above the 50-day Simple Moving Average (SMA) near $62. At the time of writing, the grey metal trades around $63.94 after briefly testing the $65 psychological mark.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "US Dollar Index Price Forecast: Likely find direction after US NFP release",
        "url": "https://urgent.news/2026/08/07/us-dollar-index-price-forecast-likely-find-direction-after-us-nfp",
        "published": "2026-08-07T11:41:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}