Silver rose above $62 per ounce on Friday, reaching its highest level since June 23 and heading for a nearly 6% weekly gain, as weaker-than-expected US jobs data dampened expectations for a near-term Federal Reserve interest rate hike. US nonfarm payrolls grew by only 57,000 in June, the smallest increase in four months and well below the 110,000 forecast, leading traders to cut their bets on a September hike. The CME FedWatch tool showed the probability of a rate increase falling to 50%, down from 66% before the data. Lower interest rates reduce the opportunity cost of holding non-yielding assets like silver. The US dollar also weakened, heading for its biggest weekly drop since April, which further boosted precious metals. Fed Chair Kevin Warsh also said this week that inflation expectations are moderating while reaffirming the central bank’s commitment to maintaining price stability.

Silver rose to 62.40 USD/t.oz on July 3, 2026, up 2.41% from the previous day. Over the past month, Silver's price has fallen 15.49%, but it is still 68.92% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Silver reached an all time high of 121.64 in January of 2026. Silver - data, forecasts, historical chart - was last updated on July 4 of 2026.

Silver rose to 62.40 USD/t.oz on July 3, 2026, up 2.41% from the previous day. Over the past month, Silver's price has fallen 15.49%, but it is still 68.92% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Silver is expected to trade at 65.61 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 76.60 in 12 months time.



Price Day Month Year Date
Gold 4,170.25 47.49 1.15% -6.81% 25.04% Jul/03
Silver 62.40 1.467 2.41% -15.49% 68.92% Jul/03
Copper 6.17 0.0549 0.90% -5.25% 22.95% Jul/03
Steel 3,054.00 16.00 0.53% -3.08% 0.13% Jul/03
Lithium 165,250.00 2750 1.69% -1.78% 165.25% Jul/03
Platinum 1,653.50 25.40 1.56% -12.97% 18.87% Jul/03
Iron Ore 98.25 -0.11 -0.11% -5.26% 2.09% Jul/02


Silver
Silver is a widely traded precious metal with both industrial and investment applications. It is used extensively in electronics, solar panels, and medical technologies, while also serving as a store of value and portfolio diversification tool. As a result, silver prices are influenced by both industrial demand and investor sentiment. Silver futures and options are traded on major exchanges such as the COMEX, where they are used by mining companies, manufacturers, and investors to manage price risk. Standard futures contracts typically represent 5,000 troy ounces. On the supply side, Mexico, Peru, and China are the largest producers globally, followed by Australia, Chile, Bolivia, the United States, Poland, and Russia. Silver prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
62.40 60.93 121.64 3.53 1975 - 2026 USD/t. oz Daily

News Stream
Silver Surges on Weak US Jobs Data
Silver rose above $62 per ounce on Friday, reaching its highest level since June 23 and heading for a nearly 6% weekly gain, as weaker-than-expected US jobs data dampened expectations for a near-term Federal Reserve interest rate hike. US nonfarm payrolls grew by only 57,000 in June, the smallest increase in four months and well below the 110,000 forecast, leading traders to cut their bets on a September hike. The CME FedWatch tool showed the probability of a rate increase falling to 50%, down from 66% before the data. Lower interest rates reduce the opportunity cost of holding non-yielding assets like silver. The US dollar also weakened, heading for its biggest weekly drop since April, which further boosted precious metals. Fed Chair Kevin Warsh also said this week that inflation expectations are moderating while reaffirming the central bank’s commitment to maintaining price stability.
2026-07-03
Silver Extends Gains on Weak US Jobs Data
Silver rose above $61 an ounce on Friday, extending gains from the previous session as weaker-than-expected US jobs data prompted traders to scale back bets on Federal Reserve rate hikes. The US economy added just 57,000 jobs in June, the fewest in four months and well below forecasts of 110,000, while the unemployment rate stood at 4.2%. That followed a report on Wednesday showing private-sector job growth also came in below expectations. Fed funds futures now imply roughly a 50% chance of a September rate hike, down from 67% before the latest employment data. Fed Chair Kevin Warsh also said this week that inflation expectations are moderating while reaffirming the central bank’s commitment to maintaining price stability. Meanwhile, gold drew additional support from lower oil prices and easing inflation concerns as commercial shipping through the Strait of Hormuz continued to recover amid progress in US-Iran talks.
2026-07-03
Silver Rallies as Weak Jobs Data Cuts Fed Hike Odds
Silver prices climbed above $61 per ounce on Thursday, recovering from seven-month lows, as markets reduced bets on Federal Reserve rate hikes after disappointing US jobs data. The economy added just 57,000 jobs in June, the lowest in four months and far below the 110,000 forecast, with leisure and hospitality losing 61,000 jobs despite World Cup tourism. The unemployment rate unexpectedly dropped to 4.2% as workers exited the labor force, while wage growth ticked up to 3.5% year-over-year. Fed funds futures now show less than a 50% chance of a September hike, down from 67% before the report. On Wednesday, Fed Chair Kevin Warsh acknowledged easing inflation expectations but reiterated the Fed’s focus on price stability. Silver also drew support from rising oil shipments through the Strait of Hormuz and progress in indirect US-Iran talks, which lowered oil prices and further eased inflation pressures.
2026-07-02