Key Takeaways:
– Silver prices ended the week down 3.24%
– Market is eyeing $30 resistance level
– Federal Reserve rate cut expectations are influencing market movements
– Non-Farm Payrolls (NFP) report will be key for determining price direction
– Overall outlook for silver is cautiously bullish
Silver Prices Face Volatility
Silver prices experienced a volatile week, ultimately ending down 3.24%. Market participants are closely watching the $30 resistance level as a key indicator of where prices may be headed. Federal Reserve rate cut expectations continue to drive market sentiment, with investors looking to upcoming economic data, such as the Non-Farm Payrolls (NFP) report, for guidance on price direction. Despite the recent turbulence, the overall outlook for silver remains cautiously bullish as uncertainties persist in the global economy.