Silver Rises to 7-Week High

2026-08-07 14:13 By Andre Joaquim 1 min. read

Silver price rose to over $63.5 per ounce on Friday, the highest in seven weeks, as markets reconsidered the likelihood that the Federal Reserve will hike rates this year.

New jobs data showed an unexpected drop in payrolls, limiting the leeway for higher rates to attend inflationary pressures.

Still, fuel and natural gas prices held most of their pullback in August as the US presidential administration chased an agreement with Iran to restore energy exports through the Persian Gulf.

Lower risks of a rate lowered yields and benefited precious metals.

In turn, industrial demand for silver also supported bids, as Chinese imports of silver-bearing ores surged 62.5% annually in June to 219,000 tonnes.

The data was in line with an expanding production for solar panels and electricity grids.

Still, lingering risks of a flare-up in energy prices maintained silver relatively close to the seven-month low of $55 per ounce from July 16th.



News Stream
Silver Rises to 7-Week High
Silver price rose to over $63.5 per ounce on Friday, the highest in seven weeks, as markets reconsidered the likelihood that the Federal Reserve will hike rates this year. New jobs data showed an unexpected drop in payrolls, limiting the leeway for higher rates to attend inflationary pressures. Still, fuel and natural gas prices held most of their pullback in August as the US presidential administration chased an agreement with Iran to restore energy exports through the Persian Gulf. Lower risks of a rate lowered yields and benefited precious metals. In turn, industrial demand for silver also supported bids, as Chinese imports of silver-bearing ores surged 62.5% annually in June to 219,000 tonnes. The data was in line with an expanding production for solar panels and electricity grids. Still, lingering risks of a flare-up in energy prices maintained silver relatively close to the seven-month low of $55 per ounce from July 16th.
2026-08-07
Silver Rises Ahead of US Jobs Report
Silver climbed above $63 an ounce on Friday, reaching a six-week high as investors awaited the closely watched US jobs report for fresh clues on labor market conditions and the outlook for Federal Reserve monetary policy. Markets remain divided over whether the US central bank will raise interest rates in September, although Fed officials have increasingly signaled a willingness to tighten policy soon amid mounting inflationary pressures. Investors also monitored developments in the Middle East, as renewed tensions in the Strait of Hormuz pushed oil prices higher, reviving concerns about inflation and the prospect of near-term rate hikes. Elsewhere, industrial demand continued to underpin silver prices, with Chinese imports of silver-bearing ores surging 62.5% year-over-year in June to 219,000 tonnes.
2026-08-07
Silver Falls on Renewed Hormuz Tensions
Silver fell toward $61 an ounce on Friday, sliding for the second straight session as a flare-up in the Strait of Hormuz sent oil prices higher, reviving concerns about inflation and a near-term Federal Reserve interest rate hike. Reports indicated that Iran struck what it described as “hostile targets” in the strait following explosions near Qeshm Island. Tehran is also seeking to bar US and Israeli vessels from transiting Hormuz while requiring countries it considers hostile to pay compensation before being granted passage. Meanwhile, Fed officials have increasingly signaled they are prepared to raise interest rates soon amid mounting inflationary risks, with markets anticipating a 25-basis-point hike in September. At the same time, industrial demand continued to provide underlying support for silver, with Chinese imports of silver-bearing ores surging 62.5% year-over-year in June to 219,000 tonnes.
2026-08-07