Silver Gains on Weaker US Labor Data and Elevated Geopolitical Risks

Silver prices gained 0.35% on Indian markets as investors reassessed the Federal Reserve's rate outlook following weaker-than-expected U.S. labor data.

The August U.S. employment numbers showed private businesses added only 38,000 jobs, the weakest gain since January and below expectations of 47,000.

This has led to an increase in the probability of a September Fed rate hike to 66% from around 40% a week earlier, while the U.S. dollar remained near a two-week high, limiting silver's upside.

Geopolitical risks remained elevated after U.S. airstrikes on Iranian targets triggered retaliation from Tehran, supporting safe-haven interest but raising concerns over global economic growth.

The European Central Bank is expected to raise interest rates by 25 basis points at its September 9-10 meeting, further influencing market sentiment.