Silver Eases Ahead of FOMC Minutes

2026-07-07 00:46 By Jam Kaimo Samonte 1 min. read

Silver slipped below $62 an ounce on Tuesday, but held most of last week's gains as investors awaited the minutes of the Federal Reserve’s June meeting for fresh clues on the outlook for interest rates.

Data released last week showed US job growth slowed sharply in June, while payroll figures for the previous two months were revised lower, leading markets to scale back expectations of a near-term rate hike.

Traders are now pricing in roughly a 50% chance of a Fed rate increase in September, down from about two-thirds before the latest employment report.

The metal also drew support from lower oil prices as traffic through the key Strait of Hormuz continued to recover following the implementation of the interim US-Iran peace agreement.

Meanwhile, Middle Eastern producers ramped up output and cut prices in response to changing market conditions, while OPEC+ agreed to increase production quotas for next month.



News Stream
Silver Eases Ahead of FOMC Minutes
Silver slipped below $62 an ounce on Tuesday, but held most of last week's gains as investors awaited the minutes of the Federal Reserve’s June meeting for fresh clues on the outlook for interest rates. Data released last week showed US job growth slowed sharply in June, while payroll figures for the previous two months were revised lower, leading markets to scale back expectations of a near-term rate hike. Traders are now pricing in roughly a 50% chance of a Fed rate increase in September, down from about two-thirds before the latest employment report. The metal also drew support from lower oil prices as traffic through the key Strait of Hormuz continued to recover following the implementation of the interim US-Iran peace agreement. Meanwhile, Middle Eastern producers ramped up output and cut prices in response to changing market conditions, while OPEC+ agreed to increase production quotas for next month.
2026-07-07
Silver Drops Over 1% as Dollar Strengthens
Silver fell more than 1% to below $62 an ounce on Monday, pulling back from two-week highs amid a firmer US dollar. However, losses were contained as signs of a cooling US labor market tempered expectations for a Federal Reserve rate hike. Last week’s data showed a sharp slowdown in US job growth in June, alongside downward revisions for April and May, leading markets to scale back near-term hike bets. At the same time, oil prices edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply fueled concerns about a potential glut. Investors now await the Fed’s meeting minutes, due Wednesday, with markets pricing in over a 50% chance of a September rate increase.
2026-07-06
Silver Holds Gains as Rate Hike Fears Ease
Silver traded above $61 an ounce on Monday, holding onto most of last week’s gains as weaker-than-expected US jobs data and lower oil prices led traders to scale back expectations for Federal Reserve interest rate hikes. Oil prices edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply fueled concerns about a potential glut. That has helped ease inflationary pressures that had previously heightened fears of further rate hikes and weighed on non-yielding precious metals. Meanwhile, data released last week showed US nonfarm payrolls increased by just 57,000 in June, the smallest gain in four months and well below forecasts of 110,000, prompting traders to reduce their bets on a September rate hike. According to the CME FedWatch tool, the probability of a hike fell to 50%, down from 66% before the report.
2026-07-06