Silver

Key insight

Silver is trading 51% below its January 2026 all-time high of ~$121, and this recovery off mid-$57 support — combined with a weakening dollar, geopolitical de-escalation, and structural industrial demand from solar/EV/AI — sets up a potential re-rating toward the $65–$70 range over the coming weeks.

Silver has bounced convincingly off the mid-$57 structural support zone, reclaiming $59.60 with a +2.46% session as a paused Iran airstrike, softening USD, and steady Fed rate hold converge as concurrent tailwinds.

Main risk

US Nonfarm Payrolls (Friday, August 7)

A blowout jobs print could force the Fed to delay any rate cut signal, reigniting USD strength and pressuring silver back below the $57 support floor.