Silver (XAG/USD) trades near $61 per ounce on October 5, 2026, after a sharp weekly correction from the $64–65 range amid elevated U.S. Treasury yields near 5.2% and a firmer dollar. The primary near-term driver is the softer-than-expected September Nonfarm Payrolls report showing just 29,000 jobs added versus 90,000 expected, which reduced market-implied odds of an October Fed rate hike and prompted a modest pullback in yields. This repricing supports precious metals, though persistent high real yields and risk-off flows continue to cap gains. Geopolitical tensions in the Middle East add safe-haven demand, while silver’s industrial exposure to solar and electronics demand remains a longer-term floor. Traders are watching upcoming labor and inflation data for further shifts in the Fed’s policy path and key technical levels around $60 support and $62.40 resistance.