
Silver Price Forecast: Weak US payrolls fuel breakout above 50-day SMA
Silver Price Forecast: Weak US payrolls fuel breakout above 50-day SMA
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Silver Price Forecast: Weak US payrolls fuel breakout above 50-day SMA

August 2026 could ultimately be remembered not as the month traders should have been watching Gold, but as the moment they should have been buying it.
![Silver (XAG) Elliott Wave analysis: Final push higher before reversal [Video]](https://static.pipvero.com/pipvero/uploads/2026-08/general-1-1786109438-fb0f1cc72e9ec9d5.webp)
Silver (XAG) Elliott Wave analysis: Final push higher before reversal [Video]

The US jobs report finally gave markets the catalyst they had been waiting for, sending the Dollar sharply lower and precious metals surging as traders scaled back expectations for another Fed rate hike. Nonfarm payrolls unexpectedly fell -23K in July, compared with expectations for an 85K increase, but the headline shock was only part of the story.
![Is Gold about to enter its biggest bull run since 2020? [Video]](https://static.pipvero.com/pipvero/uploads/2026-08/general-1-1786107629-1c46ef8a2e52c118.webp)
Is Gold about to enter its biggest bull run since 2020? [Video]

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Gold prices continue to run up though, jumping above $4,300 in keeping with the technical breakout from Wednesday. The 100-day moving average at $4,390 will be a key focus point next.

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