XAG/USD jumps 2.3% to $62.35 after softer US employment figures reduce expectations for further monetary tightening.
Silver prices climbed to $62.35, marking a 2.32% gain on Friday, as weaker-than-expected US employment data fueled speculation the Federal Reserve may pause rate hikes. The move reflects increased investor appetite for precious metals amid shifting monetary policy expectations.
Prior to the release, silver had traded below $61 for most of the week, with markets pricing in a higher likelihood of another Fed rate increase. The latest jobs report, however, fell short of consensus estimates, prompting a reassessment of the central bank’s next steps.
The rally in XAG/USD aligns with broader gains in gold and other safe-haven assets, as traders adjust positions in response to the softer economic data.