Stock of the Day

Today's Trend

iShares Silver Trust (NYSEARCA: SLV) is trading higher as silver prices rebound, with traders reacting to a weaker-than-expected U.S. jobs report that boosted precious metals and pressured the dollar. The move also follows reports that silver had suffered its worst month since 2011, but recent articles suggest the metal may be stabilizing after a sharp correction.

• Silver prices rose after the June nonfarm payrolls report missed expectations, weakening the dollar and reducing near-term Federal Reserve tightening bets, which tends to support silver and SLV. Gold and silver rally as NFP miss dents Fed-hike bets - Kitco AM Report
• Analysts said official-sector demand and constrained mine supply continue to underpin silver, with technical commentary suggesting the recent correction may be ending. Gold (XAUUSD) & Silver Price Forecast: Gold Defends Triple Bottom at $3,973 as Silver Holds Channel Floor — Next Move?
• Silver briefly tested the $60 area while gold held key support, reinforcing that the recent pullback may be more of a consolidation than a fresh downtrend. Gold (XAUUSD) & Silver Price Forecast: Gold Holds $4,000 Triple Bottom as Silver Tests $60 Ahead of NFP — Next Leg?
• A record-setting 2,500-ounce silver coin drew attention to silver demand and the metal’s cultural relevance, but it is unlikely to have a direct near-term impact on SLV. America's 250th Birthday Just Set a Silver World Record — Literally
• Silver had been under significant pressure in June, with one report saying it was on track for its worst month since 2011, highlighting how sharply SLV had fallen before the recent bounce. Silver's Worst Month Since 2011: Why Wall Street's Favorite Trade Unraveled