Commodities
Silver Prices Drop Amid Higher Than Expected US Jobs Data
The price of silver has dropped after US jobs data exceeded expectations, raising concerns that the Federal Reserve (Fed) may maintain high interest rates to control inflation.
According to market data, as of September 5, the world silver price was listed at $66.09 per ounce, down $0.61 from yesterday morning.
The US released jobs data showing 162,000 new jobs in the past month, nearly three times higher than forecasted 55,000.
This positive job data has increased concerns that the Fed may keep interest rates high for longer, putting pressure on silver prices since high interest rates make non-performing assets like silver less attractive.