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fxAug 5, 2026, 3:14 PM

Silver Surges 4% as Soft ADP Data Cools Rate Hike Bets; Weekly Trend Bearish

Silver (XAG/USD) jumped more than 4% on Wednesday after weaker-than-expected US ADP employment figures and signs of easing energy-driven inflation prompted traders to pare back Federal Reserve rate hike expectations, though the weekly outlook remains bearish.

XAGUSD

Silver prices surged more than 4% on Wednesday, boosted by a notable miss in the US ADP employment report that fueled speculation of a less aggressive Federal Reserve. The data, alongside easing energy-driven inflation, led traders to scale back their near-term rate hike expectations.

At the time of writing, XAG/USD was changing hands around $62.30, near its highest point in the current trading range. The rally reflects improved daily momentum after a period of weakness.

Despite the day’s strong gains, the weekly technical picture stays bearish, capping upside potential. Sustained moves above key resistance levels are needed to shift the broader trend.

The metal’s path now hinges on upcoming US labor market data and further Fed commentary.

Source: FXStreet Forex News