Silver prices rally as U.S. jobs report shows 23,000 job losses in July, missing economist forecasts by a wide margin.
Silver September futures climbed to $65.05 per ounce on August 7, 2026, after opening at $61.85, a 0.4% gain from the prior session. The surge followed a disappointing U.S. jobs report, which showed a loss of 23,000 jobs in July, defying expectations of an 80,000-job increase.
Economists had anticipated a stable unemployment rate, but the Bureau of Labor Statistics reported a decline to 4.1%. The weak data raised concerns about economic growth, overshadowing earlier hopes for a strong labor market to ease inflation pressures.
Silver’s year-over-year gain stands at 61.4%, down from a peak of 173.3% in mid-May. Prices remain elevated despite the jobs miss, reflecting ongoing market volatility.