Key Takeaways:
Gold fell to $4,623.93/oz after March 2026 NFP data showed 178,000 new jobs, well above the 59,000 consensus estimate. Silver held above $73.75/oz, supported by industrial demand tied to AI data centers, solar, and electronics sectors. Gold has dropped roughly 15-19% from early-March 2026 highs as Operation Epic Fury’s safe-haven premium faded. U.S.-Iran War Fails to Sustain Gold RallyThe Good Friday holiday on April 3 shuttered physical markets across many centers, though spot and futures markets stayed open long enough to absorb the full post-NFP reaction before the weekend.
Silver’s near-term target is $75 to $80 per ounce if AI-driven industrial buying proves sustained. Any confirmation of that demand trend, combined with exchange-traded fund (ETF) inflows, could lift silver toward those resistance levels before year-end.
