Silver Plunges to $68.90 as Strong US Jobs Data Lifts Dollar

Silver (XAG/USD) crashed more than 6% on June 5 to an intraday low near $68.90 after May Nonfarm Payrolls surprised sharply higher at +172K versus 85K expected. The stronger-than-forecast print boosted the US Dollar and Treasury yields while increasing odds of tighter Fed policy. Prices had already slipped nearly 2% to $72.40 on June 4 following FOMC warnings of persistent inflation and extended a 5% decline over the past two weeks, breaking below the 50-day moving average.