September silver futures rise to $60.48 ahead of the June employment report, reflecting Fed policy expectations and labor market trends.
Silver September futures climbed to $60.48 per ounce in early trading on July 2, 2026, recovering from a 1.3% dip at the open. The move follows remarks by Fed Chair Kevin Warsh, who noted subsiding inflation risks at the ECB forum, easing rate hike bets for July to under 30% per CME Group data.
The metal opened at $59.75, down from Wednesday’s close but up 2.3% week-over-week. Year-over-year gains stand at 66.1%, though growth has slowed from 173.3% on May 14, 2026. Analysts warn that a strong jobs report could reinforce expectations for prolonged high rates, capping silver’s upside.
Traders are monitoring the June employment data for clues on Fed policy, with elevated rates likely to pressure non-yielding assets like silver in the near term.