{"id":126528,"date":"2024-07-08T09:43:18","date_gmt":"2024-07-08T09:43:18","guid":{"rendered":"https:\/\/kinesis.money\/?p=126528"},"modified":"2024-07-08T09:43:18","modified_gmt":"2024-07-08T09:43:18","slug":"silver-jumps-higher-us-job-figures","status":"publish","type":"post","link":"https:\/\/kinesis.money\/tr\/market-analysis\/silver-news\/silver-jumps-higher-us-job-figures\/","title":{"rendered":"Silver Price News: Silver Jumps Higher After US Jobs Figures"},"content":{"rendered":"\n

Silver prices powered up above the $31.00 an ounce<\/a> level on Friday to hit a three-week high, taking a lead from stronger gold prices as US economic data strengthened the case for interest rate cuts.<\/p>\n\n\n\n

Prices briefly notched up a high of $31.71 an ounce \u2013 the highest price for silver since June 12. That compared with around $30.40 an ounce in late deals on Thursday.<\/p>\n\n\n\n

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KAG\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

Both gold and silver reacted positively to US data released Friday which painted a dimmer picture on the economy, playing into expectations that the US Fed will start to slash interest rates this autumn.<\/p>\n\n\n\n

Friday also saw the return of the US markets after the July 4 Independence Day holiday.<\/p>\n\n\n\n

Silver came back down off the highs to trade at around $31.24 an ounce in late deals on Friday, holding comfortably above the $31.00 figure.<\/p>\n\n\n\n

Siver\u2019s impressive performance through the week ending July 5 has begun to challenge a bearish trend that\u2019s been in place since late May when prices traded as high as $32.70 an ounce. Support at below $29.00 an ounce has held firm in June, helping to build a solid base from which prices have pushed back up toward the May highs.<\/p>\n\n\n\n

Looking ahead, attention will turn to Tuesday for speeches by US Fed officials, including testimony from Fed chair Jerome Powell, for any further signals on the outlook for monetary policy.<\/p>\n\n\n\n

Data from interest rate traders points to an expected 78% probability of a US interest rate cut at the Fed\u2019s meeting on September 18, with a 92% chance that the central bank will keep rates on hold at the next meeting set for July 31.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Silver prices powered up above the $31.00 an ounce level on Friday to hit a three-week high, taking a lead from stronger gold prices as US economic data strengthened the case for interest rate cuts.<\/p>\n","protected":false},"author":50,"featured_media":126582,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-126528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Jumps Higher After US Jobs Figures | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Monday 8th of July 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" 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