Silver is trading 2.9% down at $66.42 as robust U.S. labor market data shifts expectations toward higher-for-longer interest rates.
- Stronger-than-expected jobs reports have pressured precious metals by dampening the outlook for immediate interest rate cuts.
- Improving risk sentiment following the easing of Middle East tensions has further reduced safe-haven demand for the metal.
- Although prices saw a minor rebound after approaching a two-month low, the broader technical trend remains weak as of June 9.