Silver price jumps to near $31.00 as US yields decline after weak US NFP report. The payrolls data beats estimate but remain below May’s reading. Silver price strengthens after a Falling Channel breakout. Silver price posts a fresh three-week high near $31.00 in Friday’s American session. The white metal strengthens as US bond yields weaken after the United States Nonfarm Payrolls report for June showed that the labor market lost momentum. The Unemployment Rate rose to 4.
Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.