Silver Surges Above $62 on Weak US Jobs Data, Fed Rate Hike Hopes Fade

Silver (XAG/USD) climbed above $62 on Friday, reaching $62.35 at the time of writing, a gain of 2.32% on the day. The rally was driven by a weaker-than-expected US employment report, which reinforced the view that the Federal Reserve may pause or slow its rate-hiking cycle.

Investors increased exposure to precious metals as the dollar softened on the data, making silver more attractive. The move highlights the metal's sensitivity to shifts in monetary policy expectations.

No further details on the employment figures were provided in the source.