Yesterday, silver prices rose 0.75% to close at $107,518. This came as the US dollar weakened on ongoing concerns about trade and government spending. The US Federal Reserve chairman said that if it were not for the price hike caused by the president’s taxes, more interest rate cuts would have already taken place.
Job cuts slow, silver demand remains strong. In June, employers announced more than 48,000 job cuts – the fewest so far this year. Private companies cut 33,000 jobs, marking the first decline since March 2023. Meanwhile, the outlook for silver remains positive. Strong industrial demand could push the global silver market to a new record of more than 700 million ounces in 2025, according to the Silver Institute.
