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fxAug 6, 2026, 10:59 AM

Silver Holds Near $62 Ahead of US Jobs Data

Silver price clings to two-day gains around $62.00 as traders eye the upcoming US nonfarm payrolls report, while hopes of falling oil prices lend support.

XAGUSD

Silver (XAG/USD) is holding onto two-day gains, trading near $62.00 during the European session on Thursday.

The white metal finds support from expectations that oil prices may decline further, which typically reduces inflation hedging demand for gold but can boost silver's industrial appeal.

Market participants are now focusing on the US nonfarm payrolls (NFP) data, a key event that could influence short-term dollar strength and silver's direction.

Source: FXStreet Forex News