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US Nonfarm Payrolls Miss forecast; Silver Jumps 3.5% Higher on Report

Sep 6, 2019 (13:27)

by John Knobel

Demand for safe haven assets after U.S. Non-Farm Payrolls (NFP) Report Miss Forecast

NFP Forecast: 160,000 new jobs for August. Actual: 130,000

Gold and Silver turn positive on speculation that the US Fed will move to further cut interest rates creating demand for precious metals.

Charts

Silver finds support at the 38.2% retracement of the July - September advance ; current price $18.76 ; support at $18 upside potential remains for $20.30; $20.45 and $20.65 targets;

Source: FXGM /Bloomberg

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