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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid sudden shifts in the US labor market, silver prices witnessed a notable recovery reflecting investor appetite for hedging against monetary policy volatility. According to reports, the white metal climbed for a fourth consecutive session, pushing above the $62 per ounce threshold. This rally was primarily fueled by a weaker-than-expected US jobs report, which forced market participants to rethink the Federal Reserve's interest rate trajectory.
This surge comes as precious metals gain collective momentum, with silver benefiting from fading dollar pressure and reduced stress in the energy sector. Compared to gold's recent record runs, silver is showing robust performance as economic sentiment improves, with the EU Economic Sentiment index hitting 95 points per market data on June 29, 2026. Additionally, stable inflation rates in Spain at 3.2% have bolstered the appeal of non-yielding assets.
Technically, silver prices settled around $62.60 (close July 02, 2026), and traders are now eyeing upcoming economic data as key catalysts. The market is monitoring the Chinese Manufacturing PMI, which recently printed at 50.3, alongside ECB President Lagarde's scheduled remarks, as these events will likely determine the sustainability of the metal's current bullish trend.