WS News
07 Aug 2026, 06:29
Silver Surges More Than 3% as Rate-Cut Expectations and Safe-Haven Demand Boost Precious Metals
Silver prices jumped on Friday, significantly outperforming gold as precious metals benefited from a combination of softer U.S. labor-market signals, lower rate expectations, and renewed geopolitical uncertainty. September silver futures climbed about 3.2% to around $63.58 per ounce.
Thursday’s U.S. data provided an important macro catalyst. Continuing jobless claims increased to 1.801 million, above the 1.790 million expected, while second-quarter unit labor costs rose just 1.3%, well below the 2.2% forecast. Although initial claims remained low at 199,000, the broader combination of rising continuing claims and subdued labor-cost growth supports expectations for a less restrictive Federal Reserve policy.
Silver is also benefiting from the same geopolitical forces supporting gold. Uncertainty surrounding Iran’s demands over shipping through the Strait of Hormuz has revived concerns about the durability of a potential agreement and increased demand for defensive assets.
Beyond the short-term macro backdrop, silver retains support from a tight physical market. The Silver Institute’s World Silver Survey 2026 forecasts a sixth consecutive annual market deficit this year, while demand from AI infrastructure, automobiles and power-grid investment remains supportive despite weakness in photovoltaic demand.
Silver’s larger percentage move relative to gold is consistent with its higher volatility. With gold also advancing strongly on Friday, momentum across the precious-metals complex appears to be amplifying silver’s gains.
Silver prices jumped on Friday, significantly outperforming gold as precious metals benefited from a combination of softer U.S. labor-market signals, lower rate expectations, and renewed geopolitical uncertainty. September silver futures climbed about 3.2% to around $63.58 per ounce.
Thursday’s U.S. data provided an important macro catalyst. Continuing jobless claims increased to 1.801 million, above the 1.790 million expected, while second-quarter unit labor costs rose just 1.3%, well below the 2.2% forecast. Although initial claims remained low at 199,000, the broader combination of rising continuing claims and subdued labor-cost growth supports expectations for a less restrictive Federal Reserve policy.
Silver is also benefiting from the same geopolitical forces supporting gold. Uncertainty surrounding Iran’s demands over shipping through the Strait of Hormuz has revived concerns about the durability of a potential agreement and increased demand for defensive assets.
Beyond the short-term macro backdrop, silver retains support from a tight physical market. The Silver Institute’s World Silver Survey 2026 forecasts a sixth consecutive annual market deficit this year, while demand from AI infrastructure, automobiles and power-grid investment remains supportive despite weakness in photovoltaic demand.
Silver’s larger percentage move relative to gold is consistent with its higher volatility. With gold also advancing strongly on Friday, momentum across the precious-metals complex appears to be amplifying silver’s gains.
