Silver Futures Plunge Over 9% on Stronger-Than-Expected U.S. Jobs Data

According to Jin10 and Guangda Futures, silver futures in China tumbled over 9% on Monday, following stronger-than-expected U.S. jobs data released Friday. The United States added 172,000 non-farm jobs in May, well above market expectations of 85,000, with April figures revised upward to 179,000. The unemployment rate remained steady at 4.3%.

The robust employment and economic data, combined with persistent inflation pressures, compressed market expectations for Federal Reserve rate cuts while bolstering expectations for rate hikes. Silver prices fell to mid-March lows amid the bearish sentiment.