Silver jumps over 5%, closes above $28

Silver prices soared on Thursday, as the US dollar slipped against most currencies, and ahead of the US monthly jobs report.

The US Department of Labor revealed today that the unemployment claims fell to 1.18 million during the past week.

This comes ahead of the monthly jobs report on Friday, amid expectations for the addition of 1.5 million jobs in July, and the unemployment rate to fall.

The dollar index fell against a basket of currencies by 0.1% to 92.7 points as of 21:00 GMT, after it hit a high of 93.08 and a low of 92.5.

Silver September futures rose 5.6% or $1.51 to close at the highest level since 2013 of $28.40 an ounce, after gaining 3.3% yesterday, with a day high of $29.2 and a low of $26.9.