Gold and Silver Price Prediction as US Nonfarm Payrolls Rise Again
Highlights
- Gold and Silver prices gained as jobs data supported buyers
- US Nonfarm Payrolls Increased by 57,000 in June, missing forecasts
- Bitcoin climbed above $70,000 as crypto market sentiment improved broadly
Gold and Silver prices moved higher on Thursday as traders reacted to weaker US jobs data and renewed risk demand. Gold traded near $4,108.27 per ounce, gaining $39.79, or 0.98%, during the session. Silver rose to 60.50 per ounce, gaining 0.50%, with buyers coming back to the big markets.
Gold and Silver Price Extend Gains as Crypto Market Recovers
Gold and silver further advanced as the market mood went up following the US labor report. The action came after the weaker payrolls, as these lowered the expectations of an imminent Federal Reserve rate increase.
Cryptocurrency was also improving, as there was risk appetite based on digital markets. The overall crypto market increased by 2.25% to reach $2.13 trillion.
Bitcoin price rose to over $70,000, and Ethereum returned to over 1,600. XRP also gained above the level of 1.10, after Solana, Dogecoin and Cardano gained.
US Nonfarm Payrolls Increased by 57,000 in June
US Nonfarm Payrolls increased by 57,000 in June, according to the Bureau of Labor Statistics. The figure fell short of the market expectations of 110,000.
The revisions of April and May payrolls also reduced by a total of 74,000 jobs in the report. April was cut to 148,000, while May was revised down to 129,000.
The unemployment rate slipped to 4.2% from 4.3% in May. However, that decline came as 720,000 people left the labor force.
US LABOR JUN NONFARM PAYROLLS +57K; CONSENSUS +115K
US JUN UNEMPLOYMENT RATE 4.2%; CONSENSUS 4.3%
US JUN AVERAGE HOURLY EARNINGS +0.35%, OR +$0.13 TO $37.64; OVER YEAR +3.52%
US JUN PRIVATE SECTOR PAYROLLS +49K AND GOVERNMENT PAYROLLS +8K
US JUN AVERAGE WORKWEEK UNCHANGED AT…
— *Walter Bloomberg (@DeItaone) July 2, 2026
The labor participation rate decreased to 61.5 that is the lowest since March 2021. That fact undermined the headline indication of the low unemployment rate.
Earnings increased by 3.5 percent per hour on a year-over-year basis, which compares to market expectations. The statistics depicted that wages had been resolute despite the fact that employment had decreased drastically.
Gold and Silver Price Prediction: How High Can Bulls Go?
If Gold price keeps trading above $4,100, bulls may retest $4,130 soon. A close above 4,150 would be strong to open the way to $4,170.
Nevertheless, anything below $4,100 can undermine the bullish formation. Gold may then retest $4,083 and then retest $4,067 in that instance.
Silver is currently above a significant support level with price at approximately $60.50. Silver can re-test $65 and then $70 provided buyers defend $60.
Breaking out of $62 decisively may support the following upward swing. That may place $75 back on traders’ short-term watchlist.
The negatives include the fact that a fall below $60 will be an invitation to new selling. Silver could then move toward $59.50 and $59.00.
Frequently Asked Questions (FAQs)
1. Why did Gold and Silver prices rise on Thursday?
2. . What was the US Nonfarm Payrolls figure for June?
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