Silver held around $61 an ounce on Friday after jumping more than 3% in the previous session, underpinned by weaker-than-expected US jobs data that prompted traders to scale back bets on Federal Reserve rate hikes.
The US economy added just 57,000 jobs in June, the fewest in four months and well below forecasts of 110,000, while the unemployment rate stood at 4.2%.
That followed a report on Wednesday showing private-sector job growth also came in below expectations.
Fed funds futures now imply roughly a 50% chance of a September rate hike, down from 67% before the latest employment data.
Fed Chair Kevin Warsh also said this week that inflation expectations are moderating while reaffirming the central bank’s commitment to maintaining price stability.
Meanwhile, gold drew additional support from lower oil prices and easing inflation concerns as commercial shipping through the Strait of Hormuz continued to recover amid progress in US-Iran talks.