Silver Surges Over 1% on Soft US Jobs Data and Rising Fed Rate Cut Odds
Silver prices rose more than 1% to exceed $37.0 per ounce, driven by growing expectations of a Federal Reserve rate cut in September following a weaker-than-expected US jobs report.
The July data showed the US economy added just 73,000 jobs—well below the 100,000 forecast—while May and June’s job numbers were revised sharply lower. In response, markets raised the probability of a September rate cut to 75%, up from 45% prior to the release. The report came on the heels of stronger-than-expected PCE inflation data released Thursday, which underscored lingering price pressures and added complexity to the Fed’s policy outlook.
Meanwhile, geopolitical tensions escalated as President Trump reaffirmed a 10% global base tariff and imposed new retaliatory duties of up to 41% on countries without trade agreements with the US. He also announced a 40% levy on goods suspected of being rerouted through third countries to circumvent existing tariffs.
Source : Trading Economics
