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Silver futures opened 1% higher on Tuesday at $65.94/ounce, breaking above $65 for the first time since June, influenced by employment data and the situation in Iran.
Silver September futures reached $65.45 at 8:00 AM ET on Tuesday. The surge was primarily driven by last week's employment report, which reduced the likelihood of a Federal Reserve rate hike in September. Furthermore, the deteriorating situation due to the negotiation deadlock between the US and Iran over the Strait of Hormuz also prompted investors to seek safe haven in precious metals.
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