FX.co ★ Silver Rises More than 2% This Week

Silver rebounded to about $65 an ounce on Friday after a 1.4% decline in the previous session, lifting its weekly gain to over 2%. Softer-than-expected US inflation data indicated that the impact of energy-price shocks linked to the Iran conflict eased in July, reducing pressure on the Federal Reserve to pursue a more aggressive monetary policy.

Attention now turns to upcoming US employment figures and remarks from Fed Chair Kevin Warsh at the Jackson Hole symposium later this month. At the same time, renewed tensions in the Middle East could drive energy prices higher and reignite inflation concerns, adding uncertainty to the outlook for precious metals.

Beyond monetary policy and geopolitical risks, silver continues to be supported by robust industrial demand, especially from solar-panel manufacturing and investment in electricity grid infrastructure. Reflecting this strength, Chinese imports of silver-bearing ores jumped 62.5% year-on-year in June to 219,000 tonnes.