Market Overview - The US dollar index is trading around 98.17, while spot silver opened at $40.66/oz and is currently around $40.72/oz. The silver T+D is trading at approximately 9752 CNY/kg, and the main Shanghai silver contract is at 9767 CNY/kg. Key focus today includes the US unemployment rate for August, adjusted non-farm payrolls, and average hourly wage changes [1] - On September 4, the dollar index rose by 0.13% to close at 98.27. Spot silver closed at $40.62/oz, down 1.38%, as the August "small non-farm" data fell short of expectations, causing silver to drop below $41/oz. Spot gold also saw a decline of 0.38% to $3545.53/oz, ending a seven-day rally [1] Silver Market Data - The SLV silver ETF holdings decreased by 50.83 tons to 15230.57 tons compared to the previous trading day [2] - On September 4, the payment direction for deferred compensation fees was Ag(T+D)—short paying long [2] Economic Indicators - The US August "small non-farm" payrolls recorded an increase of 54,000, below the expected 65,000, with the previous value revised from 104,000 to 106,000. Initial jobless claims rose to 237,000, the highest level since June [3] - The average rate for a 30-year fixed mortgage in the US fell to 6.5%, the lowest since October 17 of the previous year, down from 6.56% the previous week. This decline may attract hesitant homebuyers, although many are still waiting for more significant rate cuts [4] Silver Price Analysis - The silver market opened at 41.191, experienced a slight rise to 41.221, and then saw a strong pullback, reaching a low of 40.387 before closing at 40.658. The market is currently awaiting non-farm payroll results, with suggested trading positions around 39.5 and targets set at 40.5, 40.7, and 41-41.2 [4]
9月5日白银早评：关税影响需要时间显现 银价行情震荡回落
Jin Tou Wang·2025-09-05 03:11