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Gold and silver prices drop to lowest in months after strong US jobs data.

Market News
05 Jun 2026
Forbes
View Source
Bearish
pluang ai news

Gold and silver prices fell sharply following a stronger-than-expected US jobs report showing 172,000 new nonfarm jobs added in May and steady unemployment at 4.3%. The strong labor market data increased expectations that the Federal Reserve will maintain high interest rates, which raises the cost of holding precious metals. Additionally, a stronger US dollar contributed to the decline, with gold dropping over 2.5% to around $4,388 and silver tumbling more than 6% to about $69. This marks the lowest prices for both metals since March, reversing gains made earlier in the year when prices surged due to rate cuts and geopolitical tensions. Investors will watch upcoming Fed signals and economic data for clues on future metals prices.

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