Silver Price Forecast: XAG/USD edges lower to near $36.00 on modest US Dollar strength

• Silver price loses ground to near $36.10 in Wednesday’s Asian session. 

• US job openings show an unexpected increase in May, rising to 7.76 million.

• Elevated global uncertainty and geopolitical risks might cap the Silver’s downside. 

The Silver price (XAG/USD) edges lower to around $36.10 during the Asian trading hours on Wednesday, pressured by a modest rebound in the US Dollar (USD). Traders will take more cues from the release of the US ADP Employment Change report for June, which is due later on Wednesday. 

The Greenback receives support from a better-than-expected increase in labor market demand. This, in turn, exerts some selling pressure on the USD-denominated commodity price, as a firmer USD makes Silver more expensive for foreign buyers. 

Data released on Tuesday showed that US JOLTS Job Openings rose to 7.76 million in May, compared to 7.395 million openings reported in April. This figure came in above the market expectation of 7.3 million.

On the other hand, escalating geopolitical tensions and elevated economic uncertainty could boost the safe-haven flows, benefiting the Silver price. US officials said that Iran was prepped to mine the Strait of Hormuz last month after Israeli strikes, but the mines were never deployed. US President Donald Trump stated that the US will “be there” unless Iran gives up its nuclear program.  

Additionally, rising demand for industrial uses might contribute to silver’s upside. According to the Silver Institute, global silver demand is estimated to reach a new record in 2025, led by industrial use in photovoltaics and electronics, as well as a recovery in jewelry and silverware.