Silver Price Today: XAG/USD Rebounds Toward $66 as Dollar and Treasury Yields Ease

Key Takeaways

• Spot silver traded around $65.70–$66.00 per ounce on September 3, gaining approximately 0.8%.
• A weaker US dollar and easing Treasury yields supported the precious metal’s recovery.
• The August US employment report on September 4 could determine whether silver extends its rebound.

Silver Price Rebounds Toward $66

The international spot silver price rose toward $66 per ounce on Thursday, September 3, extending its recovery from the nearly two-week low reached during the previous session.

At approximately 2:45 a.m. New York time, spot silver was quoted at $65.72 per ounce, up $0.52 or 0.79%. The bid-ask spread stood at $65.72–$65.97, while the session range was approximately $65.10–$66.38. Other live market readings placed XAG/USD near $65.84, representing a daily gain of around 0.8%.

Silver had fallen to $63.32 on September 2 before recovering. Despite the rebound, it remained below the August 28 intraday high of $71.19, showing that the market has not fully recovered from its late-August correction.

Weaker Dollar and Lower Yields Support Silver

The latest advance was supported by a softer US dollar and a moderate pullback in Treasury yields. The US Dollar Index declined approximately 0.2% toward 99.35, while the 10-year Treasury yield eased to around 4.77%.

Because silver is denominated in dollars and does not generate interest, a weaker dollar and lower bond yields generally improve its relative appeal.

US private-sector employment increased by only 38,000 in August, below expectations of 47,000. The weaker reading suggested that labour-market momentum may be cooling, reducing some of the pressure on the Federal Reserve to raise interest rates aggressively.

However, traders continued to price a better-than-even probability of a September rate increase following Fed Chair Kevin Warsh’s recent hawkish comments. This leaves silver sensitive to incoming economic data and changes in interest-rate expectations.

US Employment Report Becomes the Next Catalyst

Attention now turns to the August US Employment Situation report, scheduled for 8:30 a.m. Eastern Time on Friday, September 4.

A weaker-than-expected payroll report could push Treasury yields and the dollar lower, potentially helping silver challenge resistance above $66. Conversely, stronger employment growth could revive expectations for a September rate increase and place renewed pressure on precious metals.

Oil prices and Middle East developments also remain relevant. The recent easing in crude prices has reduced immediate inflation concerns, but another energy-price surge could lift bond yields and create a more complicated environment for silver.

Silver Price Levels to Watch

The first resistance zone is located around $66.25–$66.40, which capped the September 3 advance. A sustained break above this area could bring $67.10 and $67.50 back into focus.

Initial support is visible between $65.10 and $65.20. A move below that range could expose the psychological $64 level, followed by the September 2 low near $63.30.

Silver remains highly volatile. While the short-term recovery has improved momentum, the upcoming US employment report could produce sharp price swings in either direction.