Spot Silver held gains from the prior two trading days on Tuesday, supported by rising expectations of a Fed rate cut next month.
US job growth slowed sharply in July, raising concerns over the US economic outlook.
Employers in all sectors of the US economy, excluding farming, added just 73,000 job positions in July, while June’s job gains were revised sharply lower to 14,000.
Markets are now pricing in a 94% chance of a Fed rate cut in September.
Yesterday San Francisco Fed President Mary Daly said that the time for rate cuts was drawing close, as evidence of a cooling labor market and the lack of persistent inflationary pressures from tariffs mounted.
The prospect of lower interest rates tends to support non-yielding Silver.
On the trade front, tariffs that the US imposed last week on a number of countries are likely to remain in place rather than be reduced as part of continuing negotiations, according to Trade Representative Jamieson Greer.
Spot Silver was last up 0.18% on the day to trade at $37.48 per troy ounce.
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