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Commodities

Silver Prices Slip Below $66 on Strong NFP Report

Guavy AI Editorial Team
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Silver
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Silver prices fell nearly 0.8% on Monday to around $65.70 due to renewed expectations of monetary tightening in the US.

The strong US employment report, released on Friday, showed that the US economy added 162K jobs in August, well above the market consensus of 56K.

This has revived bets for a potential interest rate hike by the Federal Reserve (Fed) and supported the US Dollar (USD).

Geopolitical tensions between the US and Iran in the Strait of Hormuz keep a safe-haven premium embedded in financial markets, supporting energy prices and inflation risks.

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