Silver Price Volatility Rises Amid US-Iran Tensions and Strong Jobs Data
Silver's price on September 7, 2026, is $65.90 per troy ounce, down 0.47 percent from Friday's close of $66.21. The August nonfarm payrolls report, released on September 5, came in at 162,000, nearly triple the consensus forecast of roughly 57,000. This strong jobs data has strengthened the dollar and lifted Federal Reserve rate-hike odds to approximately 60 percent for the September 15-16 meeting.
The market is now torn between two opposing narratives: a stronger economy and a firmer dollar, which would typically be bearish for silver, versus the geopolitical safe-haven bid introduced by US-Iran ship strikes over the weekend. The latter has kept XAG/USD above $65.
COMEX, the largest futures exchange for metals, is closed on Sunday, but the market will wait to see which narrative wins when trading resumes on Monday. A 25-basis-point hike at the September 15-16 FOMC meeting would likely push silver toward the $62-64 range.