Silver Prices in India Fluctuate Amid Strong US Jobs Report and Fed Hike Odds
India's silver benchmark sat at ₹237 per gram on Sunday, September 7, 2026, after a volatile week. The strong August jobs report from Washington changed the arithmetic for precious metals, with employers adding 162,000 workers last month, nearly three times the 57,000 forecast.
Before Friday's data, markets priced the Federal Reserve's September 15-16 meeting as a near-certain hold or even a cut by year-end. However, after Friday's jobs report, CME Group's FedWatch tool put the probability of a rate increase at approximately 60%.
The August payrolls number came in at 162,000 non-farm jobs against a consensus of roughly 57,000. This gap is not noise, and before Friday, markets priced the Fed's September 15-16 meeting as a near-certain hold with a growing chance of a cut by year-end.