Silver May Make Largest Intraweek Gain in 10 Weeks

iNVEZZ.com reported that though silver saw little price action Friday morning, it is nevertheless “poised for its biggest intraweek gain in 10 weeks.” The US jobs report could bring some volatility.

As quoted in the market news:

Silver for immediate delivery was virtually flat, down less than half a cent to $16.44 as of 07:09 GMT, and was trading over one percent below its 50-day simple moving average (SMA) of $16.62. It has seen little change following the close of Monday’s volatile session, when it hit both a five-year low and a five-week high intraday.

The precious metal is, however, on course for a 6.1 percent weekly gain, the steepest since the seven days ended 10 February. Traders remain cautious ahead of the US jobs report for November, scheduled for release at 13:30 GMT today, with its impact on the dollar set to influence the price of silver.

Click here to read the full iNVEZZ.com report.