Silver prices today, Friday, August 7, 2026: Silver surge continues as jobs report disappoints

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Silver prices today, Friday, August 7, 2026: Silver surge continues as jobs report disappoints

Tim Manni ·

Fri, August 7, 2026 at 3:43 PM GMT+3 3 min read

Silver (SI=F) September futures opened at $61.85 per ounce on Friday, August 7, 2026, up 0.4% from Thursday's closing price. The silver price surged higher this morning, hitting $65.05 as of 8:41 a.m. ET.

Silver prices opened a bit lower than yesterday but have surged this morning to levels last seen in June in anticipation of a strong jobs report. However, the Bureau of Labor Statistics reported just minutes ago that the latest job numbers have come in far worse than expected. Despite this, silver prices remain elevated, at least for now.

Economists surveyed by Bloomberg expected to see a gain of 80,000 jobs and a stable unemployment rate. Instead, the BLS reported that 23,000 jobs were lost in July and the unemployment rate ticked down to 4.1%.

There was hope that a strong labor market could help offset inflation concerns, prompting the Fed to keep rates stable next month and not raise them.

Read more: July jobs report: Payrolls far worse than expected as the economy lost 23,000 roles

Current price of silver

The opening price of silver futures on Friday, August 7, 2026, was 0.4% higher compared to Thursday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:

• One week ago: +4.5%

• One month ago: +1.1%

• One year ago: +61.4%

For context, silver's year-over-year growth was 173.3% on May 14.

24/7 silver price tracking: Don't forget you can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

Want to learn more about the current top-performing companies in the silver industry? Explore a list of the top-performing companies using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Investing in silver? Here's how to avoid taxes.

Do you have to pay taxes on silver? Yes. Silver is a capital asset, so when you sell it for more than you paid, the gain is taxable and reported on Schedule D of your federal return.

Many investors assume holding silver for more than a year qualifies them for the same long-term capital gains rates as stocks (0%, 15% or 20%).

Spoiler: It doesn't.

The 28% collectible tax trap

The IRS classifies physical precious metals — including bars, rounds, and coins — as collectibles. That classification changes the tax math in a big way.

Short-term gains

If you hold silver for one year or less, your profit is taxed as ordinary income. Depending on your tax bracket, that could go as high as 37%.

Long-term gains

If you hold silver for more than one year, your gain is taxed at your ordinary income rate — but no more than 28%.

Here's what that looks like in real life:

• If you're in the 10%, 12%, 22% or 24% bracket, your silver gain is taxed at that same rate.

• If you're in the 32%, 35% or 37% bracket, you're capped at 28%.

So if you're a middle-income earner accustomed to paying 15% on stock gains, silver can cost you more, maybe 22% or 24%, depending on your adjusted gross income.

If you're in the top brackets, the 28% cap is technically a discount versus 35% or 37% — but it's still higher than the 20% max long-term capital gains rate on stocks.

That difference adds up quickly when you're talking five- or six-figure gains.

Learn more: How to avoid taxes when investing in silver

Price of silver chart

Whether you're tracking the price of silver since last month or last year, the price-of-silver chart below shows the precious metal's value journey so far this year.

(SI=F )

Go deeper with AlphaSpace

63.73 +2.12 (+3.44%)

As of 11:30:20 AM EDT. Market Open.

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Investing in silver or other metals? Here's how to avoid taxes.

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