Silver Price Prediction: $33.85 Breakout in Play as NFP Week and Safe-Haven Demand Fuel Optimism

Silver (XAG/USD) is holding steady at $33.18, up 0.24% in the last 24 hours. The recent rise is due to geopolitical tensions and economic uncertainty driving safe-haven demand. As global headlines heat up, including US President Trump’s tariff threats and ongoing geopolitical tensions, investors are fleeing to precious metals.

The metal gets an extra boost from a slightly weaker US dollar, which fell 0.1% this week, making dollar-denominated assets more attractive to international buyers.

NFP Week Brings Volatility

Traders are gearing up for a busy US economic calendar, headlined by Friday’s Non-Farm Payrolls (NFP) report, which will influence Fed policy expectations. With consensus expecting a 130K jobs gain and unchanged 4.2% unemployment rate, any surprise will move silver.

US events this week:

• ISM Manufacturing PMI & Fed Chair Powell speech (Monday)

• JOLTS Job Openings (Tuesday)

• ADP Non-Farm Employment & ISM Services PMI (Wednesday)

• Weekly Jobless Claims (Thursday)

• NFP, Average Hourly Earnings, and Unemployment Rate (Friday)

A weaker than expected NFP could be dovish, lifting silver’s safe-haven demand as the dollar pulls back. A strong NFP could curb gains if rate cut bets unwind.

Technical: Can Silver Break $33.85?

Technically, silver is forming higher lows supported by a rising trendline at $32.98. The 50-period EMA at $33.14 is acting as support, cushioning dips. MACD has turned slightly bullish, with the histogram green and the MACD line above the signal line. Levels to watch:

• Support: $33.14, $32.98, $32.45

• Resistance: $33.50, $33.85, $34.16

For new traders: wait for a clear breakout or reversal pattern with volume confirmation. Until then, be patient and cautious, especially during NFP week.