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Silver prices (XAG/USD) rose to $82.20 during the Asian session on Friday, driven by geopolitical tensions between the US and Iran. The white metal is benefiting from safe-haven demand amid the ongoing US-Israeli campaign against Iran. Traders are now focused on the upcoming US nonfarm payrolls report for February, which could influence the Federal Reserve’s monetary policy trajectory and the dollar’s strength. The surge in silver highlights the market’s sensitivity to geopolitical risks, which often drive demand for precious metals as a hedge against uncertainty. However, the outcome of the US jobs data will be critical in determining the dollar’s direction. A weaker-than-expected report could pressure the dollar, boosting silver, while stronger data might support the dollar and weigh on the metal. For traders, the coming week’s data release and potential shifts in the Iran-US conflict are key catalysts. Investors should monitor central bank policies and regional tensions in the Middle East, as these factors could amplify volatility in the silver market. The $82.00 level may act as a psychological support/resistance zone in the near term.
