XAG/USD gains as US labor market cools
Silver prices are rising as the US labor market shows signs of cooling, with the economy adding just 57,000 jobs in June.
The June Nonfarm Payrolls report missed the market consensus of 110,000, leading traders to scale back their hawkish bets.
The CME FedWatch tool now prices in a 52% chance of a September interest rate hike, down from 66% before the report.
Recent remarks from the Federal Reserve reaffirmed the central bank’s commitment to a 2% price stability target, acknowledging moderating inflation risks.