Silver is trading 2.2% down at $66.58 after the latest U.S. jobs report showed 172,000 May payroll gains, reinforcing a higher-for-longer interest rate outlook.
- The stronger-than-expected labor data has pressured the precious metals complex by bolstering expectations that the Federal Reserve will maintain elevated rates for an extended period.
- Sentiment was further dampened following gold's sharpest decline of 2026, raising concerns among investors that the recent rally in precious metals may have stalled.