Silver futures opened at $61.85 per ounce on Friday, August 7, 2026, then jumped to $65.05 during morning trading, marking the metal's highest level since June. The rally came as the Bureau of Labor Statistics released July employment data showing the US economy shed 23,000 jobs, a sharp miss against Wall Street forecasts calling for an 80,000-job gain. The unemployment rate ticked down to 4.1 percent even as payrolls contracted.
The disappointing labor report renewed investor concern that the Federal Reserve will need to weigh economic softness against persistent inflation when it sets policy next month, a dynamic that has historically pushed capital toward precious metals as a hedge. Silver is now up roughly 4.5 percent over the past week and more than 61 percent higher than a year ago, according to Yahoo Finance tracking of COMEX futures.
Analysts point to tightening industrial demand as an additional driver, with solar panel manufacturers, electric vehicle producers and data center suppliers all competing for limited above-ground silver inventories. For US investors holding physical silver, the report also flagged a tax distinction worth noting: the IRS treats bars, rounds and coins as collectibles, subject to a top capital gains rate of 28 percent even after a one-year holding period, a higher rate than applies to conventional securities.
Source: Yahoo Finance - https://finance.yahoo.com/personal-finance/investing/article/silver-prices-today-friday-august-7-2026-silver-surge-continues-as-jobs-report-disappoints-124342659.html