Silver Holds Gains on Weak US Jobs Data

2026-07-03 00:12 By Jam Kaimo Samonte 1 min. read

Silver held around $61 an ounce on Friday after jumping more than 3% in the previous session, underpinned by weaker-than-expected US jobs data that 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.



News Stream
Silver Holds Gains on Weak US Jobs Data
Silver held around $61 an ounce on Friday after jumping more than 3% in the previous session, underpinned by weaker-than-expected US jobs data that 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
Silver Strengthens on Warsh Remarks
Silver strengthened above $59 an ounce on Thursday after hitting seven-month lows in recent sessions, as Federal Reserve Chair Kevin Warsh said inflation expectations had eased over the past month, suggesting there was no urgency to raise interest rates. However, he reiterated the central bank’s commitment to restoring price stability. Data released on Wednesday also showed private-sector hiring in the US slowed more than expected last month, while investors now await the nonfarm payrolls report later today for fresh insights into labor market conditions and the Fed’s policy outlook. Markets continue to price in more than a 60% chance of a Fed rate hike in September. Silver also drew support from rising oil shipments through the Strait of Hormuz and signs of progress in indirect US-Iran talks, which pushed oil prices lower and eased inflation concerns.
2026-07-02