Silver prices plunged on Saturday, June 6, 2026, continuing a sharp sell-off. The decline followed the release of surprisingly strong U.S. labor market data.
The U.S. economy added 172,000 jobs in May. This total more than doubled the consensus forecast of 85,000.
Investors reacted by increasing bets on a Federal Reserve interest rate hike before the end of the year. A strengthening U.S. Dollar put significant pressure on silver and other non-yielding assets.
Spot silver crashed approximately 9% during the previous session. International prices tumbled below $69 per ounce. In India, silver fell below the Rs 2.70 lakh per kg mark.
The jobs report has overshadowed other market factors like geopolitical tensions. It remains the dominant catalyst for the current downward pressure.