Silver Price Soars to Six-Week High Amid Fed Rate Hike Uncertainty

The silver price continues its near-term bullish trend on Friday, reaching fresh six-week highs at $63.90 after a brief hesitation on Thursday.

This move is favored by fading expectations that the Federal Reserve will hike interest rates in the coming months.

However, investors are likely to maintain a cautious mood on Friday, awaiting the release of the key Nonfarm Payrolls report.

The bank Danske Bank forecasts July's payrolls at 70k, with the Unemployment Rate unchanged at 4.2%.