Gold, Silver Prices Sink Amid Strong US Jobs Data and Trade Deficit

Gold and silver prices continued their decline on Thursday, hitting new lows for the week amid strong US jobs data and a growing trade deficit. The precious metals dropped to $4580 per troy ounce and $68 respectively, representing a 2.6% and third dip below these levels this week.

The US trade deficit reached its highest point since March 2025, with the country importing $118 billion more in goods than it exported last month. This has led some to suggest that the US dollar may be over-valued on the currency market.

The jobs market also showed strength, with jobless benefit claims coming in lower than forecast and nearing this summer's 57-year lows.