Silver (XAG) Forecast: Key Fibonacci Levels in Focus as Traders Await NFP Report

Silver Pulls Back After Testing Key Resistance, Traders Eye NFP Report

Silver prices are lower on Thursday after hitting a multi-month high of $32.55 in the previous session. The pullback comes as the metal tests key resistance inside the Fibonacci retracement zone between $31.81 and $32.53, derived from the $34.87 to $28.74 trading range. While the broader uptrend remains intact, technical signals suggest a potential short-term correction.

At 13:04 GMT, XAG/USD is trading $32.03, down $0.29 or -0.88%.