The Dollar Index closed at 101.923, down 0.12%. It opened at 102.016 and traded between 101.668 and 102.132. The dollar slipped on the session. Spot Silver still settled lower. The 10-year was the trade Friday, not the dollar.
Late Buyers Got Caught on the Reversal
Anybody who bought Spot Silver on the payrolls spike above $61.50 watched the trade turn against them by the afternoon. The $62.09 high came early. The 10-year was still falling. By the time the yield turned, Spot Silver was already losing ground.
The settle at $60.37 put Spot Silver back under the long-term 50% level at $60.835. The 50-day moving average is at $64.03. The $62.09 minor top that formed on Friday’s spike is now the level sellers defended into the close. The session created a new resistance level and closed below a support level on the same day.