Silver Markets Rebound Amid Shift in Rate Expectations

The silver market experienced a tumultuous week, settling at $60.71 an ounce on Friday after a modest 1.0% daily decline.

However, this quiet closing print belies a more complex story of resurgent rate anxiety and a surprisingly soft US jobs report that handed precious metals a late-week reprieve.

The metal initially traded on the back foot, with Brent crude briefly touching $107 a barrel on Monday due to geopolitical friction, which stoked fears of a fresh inflation wave and pushed Treasury yields and the dollar higher in tandem.

New York Fed President John Williams added to the pressure by suggesting further policy tightening before year-end could be warranted given price pressures, with traders pricing the odds of an October rate hike at 70% at one point.