Risk appetite takes a hit as Markets prepare for month-end, Silver breaks yearly highs

[Redator]

The week had been surprisingly calm, with equities calmly marching higher, FX Markets not knowing where to go and generally low volatility.

Despite of the lack of volatility, traders were not missing headlines: Between the firing of FED's Lisa Cook which pursues the corruption of the Federal Reserve's independence (A lawsuit is currently ongoing), some geopolitical distress with Russia and renewed diplomatic tension with Iran.

I strongly invite you to check this piece on Gold running higher from the headwinds – The precious metal is currently breaking higher and stands less than $50 to its all-time highs.

Read More: Gold (XAU/USD) Eyes Weekly Close Above $3400/oz on Renewed Haven Demand and DXY Weakness

You can also access one of my weekly pieces on Silver that covers the run on the FED's independance and its influence on precious metals right here.

The metal actually just broke yearly highs – check out the chart just below.

Gold is attaining an intra-day top, but these flows have already degraded Market sentiment quite a bit, with Nasdaq down 1.24% as I speak and other US Indices following through (On a slower descent however).

Let's take a look at the current state of Markets and look at a few key charts to spot what are the ongoing risk-off flows towards the monthly close.

Markets also have reasons to reduce risk, awaiting for next week's Non-Farm Payrolls release. It seems that the move has some traction, but if it really just was about Iran or Russia tensions, Oil would have headed higher – In any case, let's see what's moving.

Get ready for next week with our week ahead piece:

Read More: Markets Weekly Outlook – US Non-Farm Payrolls, US ISM Services PMIs and Eurozone Inflation

Taking a look at the current market picture

An overview on the current market, August 29, 2025 – Source: TradingView

It would be wrong to say that the current flows are typically risk-off, however, something seems to be playing out.

It could be month-end flows exaggerating profit-taking on a few risk-assets, but the most volatile ones like Bitcoin and Nasdaq really are not enjoying this intraday trend.

It seems that the first legs of the ongoing move are over, and they have started a bit after the Core PCE release.

Keeping an eye on Gold could point to some interesting dynamics.

Watch for the weekly close, Equities pursuing their move lower could trigger some supplemental volatility.

After all, with the pre-NFP profit taking, it would be normal to see some angst in Markets.

Silver breaks yearly highs

Silver 8H Chart, August 29, 2025 – Source: TradingView

Silver has marked daily highs at 39.97, with the daily spike being decently strong and may have caught some participants off-guard.

A continuation on Monday could lead to a test of the 2011 highs:

Key levels for Silver:

• Daily and yearly highs 39.97
• All-time highs 49.87 – April 2011
• Weekly lows and support zone between $35 to $36.36

Keep an eye on the month-end flows which typically accelerate between 15:00 to 16:00.

Safe Trades and a pleasant weekend!

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