Silver traded below 70 USD/t.oz

Silver decreased below 70, according to trading on a contract for difference (CFD).

Silver decreased 5.03% to 70.121 USD/t.oz

Silver prices fell below $70 per ounce on Friday, reaching their lowest level since late March and heading for a weekly decline of over 7%, as a stronger-than-expected US jobs report and ongoing Middle East uncertainty kept inflation and interest rate concerns in focus. The May jobs report showed the US economy added 172,000 jobs, far exceeding the forecasted 85,000, while the unemployment rate remained at 4.3% and annual wage growth eased to 3.4%, matching expectations. This led investors to bet on a Federal Reserve interest rate hike, with markets pricing in a quarter-point increase by year-end. Investors also tracked Middle East developments, where US President Donald Trump said peace negotiations were nearing their final stage. However, Iran’s Foreign Minister dismissed any meaningful progress, and Iran-backed Hezbollah rejected a US-mediated ceasefire proposal.