Silver

Silver has collapsed ~53% from its January 2026 peak near $121 and is now caught between a genuine macro floor (Fed on hold, dollar softening) and persistent downside pressure from the multi-month correction — the $55.00 level is the critical line in the sand for bulls.

Silver is consolidating around the mid-$57 support zone after a 6% monthly decline from the $60+ range, with the geopolitical Iran ceasefire catalyst providing a relief bounce that has not yet cleared the key $59.00 resistance level.

Main Risk

US NFP Jobs Report – Friday 7 August

A stronger-than-expected payrolls print could revive Fed hawkishness and reignite USD strength, pushing silver back below the $55.00 support and invalidating the current consolidation base.