Silver Price Forecast: XAG/USD rises above $62.00 within broader bearish setup

Silver price (XAG/USD) jumps to the weekly high near $62.15 during the early European trading hours on Friday. The precious metal extends the rally as a weaker-than-expected US Nonfarm Payrolls ‌(NFP) report has reduced expectations of Federal Reserve (Fed) interest rate hikes this year.