- Metals jump after the official US employment report that weakened the US dollar.
- XAG / USD rises to a four-week high, approaching $ 25.00.
At payment is up 3.90% on Friday, boosted after the NFP report disappointing expectations and despite rising US yields Technical factors helped drive XAG / USD at $ 24.84, the highest level in four weeks.
Metals rose sharply and extended gains to the London level and ahead of a long weekend in America. The US employment report showed an increase in payroll of 235,000 down from the 750,000 expected.
The dollar weakened overall and consolidated weekly losses. The DXY is down for the fourth day in a row and has hit the eight bottom at 91.93, the lowest level in a month. The US 10-year yield jumped to 1.34% before moderating to 1.32%.
Silver and gold broke higher, ending the range trading days. The breakout added more fuel to the rally. Also, the XAG / USD broke a short-term downtrend line. On the upside, the next resistance is around $ 24.95 (55 SMA), followed by $ 25.00 (psychological) and $ 25.20. On the downside, now $ 24.60 is immediate support and then $ 24.25.
Technical levels
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