Silver slipped 1% to around $40.7 per ounce on Thursday, easing from 14-year highs as investors locked in profits ahead of key US labor market releases. Precious metals have rallied in recent weeks as traders increased bets on Federal Reserve rate cuts, with markets pricing in nearly a 98% chance of a 25 basis point reduction this month. On Wednesday, data showed US job openings fell more than expected to 7.181 million in July. Attention now turns to the ADP private payrolls and weekly jobless claims due later today, followed by the August jobs report on Friday. Safe-haven demand also lent support to bullion amid concerns over Fed independence, trade frictions, and broader geopolitical risks. On the industrial front, silver demand remained firm, boosted by China’s solar boom, with solar cell exports surging over 70% in the first half of the year, led by robust shipments to India.
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