Minggu ini, platina dan paladium mundur setelah kenaikan cepat, lalu berkonsolidasi di level tinggi. Data tenaga kerja nonfarm yang lebih lemah dan koreksi ringan IHK memicu mendinginnya ekspektasi kenaikan suku bunga. Namun, AS dan Iran terlibat sengketa kompensasi dan selat tersebut tetap ditutup. Ditambah resistensi teknis dan aksi ambil untung, harga tertekan dan terkoreksi. Kuotasi pasar spot relatif stagnan, dan konsumsi tetap lesu.

[SMM Silver Weekly Review: Silver Retreats After Rapid Rise This Week, Up 3.29% on the Week; Futures Stay Firm While Spot Discounts Widen]Silver prices retreated after a rapid rise this week, gaining 3.29% on the week. Negative nonfarm payrolls and cooling rate-hike expectations pushed prices to a mid-week high, but the market turned cautious after the CPI release. Spot premiums gradually shifted to discounts, showing a divergence pattern in which futures were strong while spot was weak. Inventories saw a 74 mt buildup, and ETF holdings edged up. In the short term, prices are likely to consolidate; over the medium and long term, watch for upside opportunities after the rate hike path and geopolitical situation become clearer.

Logam mulia secara umum bergerak fluktuatif di level tinggi minggu ini, dengan emas spot melonjak dari $4.240 ke atas $4.440 dan menyentuh level tertinggi dua bulan. Pendorong utamanya adalah kejutan penurunan tajam data nonfarm payrolls Juli dan koreksi ringan IHK; ekspektasi kenaikan suku bunga The Fed pada September mereda signifikan, dolar AS dan imbal hasil Treasury AS sama-sama turun, serta pembelian emas bank sentral meningkat. Perhatikan rebound harga minyak, tekanan pasokan Treasury AS, dan koreksi teknikal jangka pendek