Spot Silver pulled back from a 1 1/2-week high near the $83 mark on likely profit taking following the recent rally, while the US Dollar held close to an over two-week high, weighing on precious metals’ prices.
Investor focus now sets on the US data set, including ADP employment figures, job openings as well as Friday’s Non-Farm Payrolls report, which may provide fresh clues on the health of the economy and the Fed’s monetary policy path.
US private payrolls probably rose by 45,000 in December, according to market consensus, after businesses slashed 32,000 jobs in November.
And, job openings in the US probably decreased to 7.64 million in November from 7.67 million in October.
Fed Governor Stephen Miran said on Tuesday that aggressive policy easing was required to keep the economy moving forward.
FOMC policy makers had signaled just one 25 bps rate cut for 2026, while investors continue to expect two or three rate cuts of 25 basis points each.
Spot Silver was last down 2.70% on the day to trade at $79.07 per troy ounce.
Last year, Silver demonstrated a stellar performance, driven by its designation as a critical US mineral and amid supply tightness. Silver scaled a record high of $83.62/oz. on December 29th. The white metal also registered its best annual performance on record in 2025, gaining 147%.
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