Silver Extends Rally to Six-Week Peak

2026-08-05 14:18 By Joana Ferreira 1 min. read

Silver surged to $62.5 an ounce on Wednesday, its highest level since June 22, as easing geopolitical tensions and weaker-than-expected US labor market data strengthened expectations of a less aggressive Federal Reserve.

Investor sentiment improved after President Donald Trump said the US and Iran had held "very good discussions," fueling hopes of an agreement to end their five-month conflict.

Expectations of restored Middle Eastern energy supplies have driven oil prices down about 10% this week, easing inflation concerns and reducing expectations for further Fed tightening.

Meanwhile, the ADP Employment Report showed the US economy added just 44,000 private-sector jobs in July, the weakest reading since January and well below forecasts of 70,000.

Markets now assign a 57% probability to a September Fed rate hike, down from 67% a day earlier.

Still, Kansas City Fed President Jeff Schmid said additional policy tightening may be needed to return inflation to the central bank's 2% target.



News Stream
Silver Extends Rally to Six-Week Peak
Silver surged to $62.5 an ounce on Wednesday, its highest level since June 22, as easing geopolitical tensions and weaker-than-expected US labor market data strengthened expectations of a less aggressive Federal Reserve. Investor sentiment improved after President Donald Trump said the US and Iran had held "very good discussions," fueling hopes of an agreement to end their five-month conflict. Expectations of restored Middle Eastern energy supplies have driven oil prices down about 10% this week, easing inflation concerns and reducing expectations for further Fed tightening. Meanwhile, the ADP Employment Report showed the US economy added just 44,000 private-sector jobs in July, the weakest reading since January and well below forecasts of 70,000. Markets now assign a 57% probability to a September Fed rate hike, down from 67% a day earlier. Still, Kansas City Fed President Jeff Schmid said additional policy tightening may be needed to return inflation to the central bank's 2% target.
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Silver Extends Gain as Hormuz Deal Eyed
Silver climbed above $61 an ounce on Wednesday, rising for the third straight session as investors assessed reports of an imminent deal to reopen the Strait of Hormuz, which could ease inflation concerns and lower the likelihood of near-term Federal Reserve interest rate hikes. On Tuesday, Qatar said an interim proposal had been prepared, while both Washington and Tehran signaled progress in negotiations to reopen Hormuz, triggering a sharp decline in oil prices. Markets trimmed expectations for a September Fed rate hike to around 57%, down from 67% a day earlier. Still, New York Fed President John Williams said inflation continues to move gradually lower but reiterated that the central bank stands ready to raise interest rates if price pressures persist. Investors are now awaiting a fresh batch of US labor market data for further clues on the Fed’s policy outlook, with ADP’s July private payrolls report due later today.
2026-08-05