Weekly Market Recap: Silver Falls 8.89% to Lead Global Declines, Gold Slips, Dollar Edges Up, US Nonfarm Payrolls Ahead
Silver posted the week's largest decline, falling 8.89% to 49.082, while gold dropped 3.04%. The US Dollar Index rose 0.11% and major markets diverged. This recap covers key market moves, China's manufacturing PMI result and the US nonfarm payrolls report due next week.
Global markets turned more cautious this week, with precious metals leading the pullback. Silver fell the most among major markets, dropping 8.89% to 49.082, while gold slipped 3.04% to 3,874.25. The US Dollar Index was little changed at 101.719, up 0.11%. If the dollar stays firm and rate conditions hold, precious metals may remain in a consolidation phase in the near term.
Precious metals: silver leads the decline
Silver (XAGUSD) moved from 53.869 to 49.082, a weekly decline of 8.89%, the largest among major markets. Gold (XAUUSD) fell from 3,995.60 to 3,874.25, down 3.04%. The joint move lower suggests investors trimmed short-term precious metals exposure. If the dollar and real yields shift next week, volatility in metals could increase; see the Silver (XAG/USD) analysis page and Gold (XAU/USD) analysis page for technical context.
FX: dollar edges up, yen softer
The US Dollar Index (DXY) closed at 101.719, up 0.11%, a modest move overall. EUR/USD (EURUSD) closed at 1.11547, down 0.40%; GBP/USD (GBPUSD) closed at 1.33838, up 0.11%; USD/JPY (USDJPY) closed at 157.469, up 0.42%, leaving the yen relatively soft. If the dollar index holds its current range, major pairs may stay range-bound; compare levels on the US Dollar Index (DXY) analysis page and USD/JPY analysis page.
Equities and commodities: tech under pressure, Hong Kong higher
In US equities, the S&P 500 (SPX500) closed at 7,586.1, down 0.69%, while the Nasdaq 100 (NAS100) closed at 28,420.1, down 2.09%, with tech shares seeing a larger adjustment. The Hang Seng 50 (HK50) closed at 23,352.0, up 1.16%, one of the few markets to finish higher. WTI Crude Oil (USOIL) closed at 102.06, down 0.70%. If tech selling continues, indices may stay choppy near recent levels.
Crypto: bitcoin pulls back
Bitcoin (BTCUSD) closed the week at 77,228.4, down from 80,039.4 last week, a decline of 3.51%, moving with risk assets. If risk appetite keeps cooling, crypto volatility may remain elevated in the near term.
Key data released this week
- China October official manufacturing PMI: previous 50.1, actual 49.3, below the 50 mark.
Events to watch next week
- 2026-11-06 21:30 (UTC+8) US October nonfarm payrolls change (thousands): expected 6.5万人, previous 2.9万人. A large deviation from expectations could trigger bigger moves in the dollar and precious metals; check the economic calendar for timing and use swing signals to follow market rhythm.
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Borearis Research Team · For information only, not investment advice. Trading involves risk.
