Silver price (XAG/USD) trades 0.9% higher to near $59.65 during the European trading session on Thursday.
The white metal gains as the US Dollar (USD) slumps ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down 0.4% to near 101.00. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen.
Technically, a lower US Dollar makes the Silver price an attractive bet for investors. Investors will pay close attention to the US NFP data to get fresh cues regarding the Federal Reserve’s (Fed) monetary policy outlook. The NFP report will likely show that employers hired 110K fresh workers, lower than 172K in May.