Gold And Silver Hit Lowest Prices In Months After Strong Jobs Report

BreakingBusinessGold And Silver Hit Lowest Prices In Months After Strong Jobs ReportByConor Murray,Forbes Staff. Murray is a Forbes news reporter covering entertainment trends.Follow AuthorJun 05, 2026, 11:38am EDTToplineGold and silver plunged following a strong jobs report Friday, leaving both precious metals hovering near their lowest prices of the year to date, with analysts citing expectations the Federal Reserve will keep interest rates high and a strengthening dollar.Gold and silver hit their lowest levels since March following strong jobs data. (AP Photo/Matthias Schrader, File)Copyright 2025 The Associated Press. All rights reservedKey FactsThe price of gold is $4,388.00 as of 11 a.m. EST Friday, down more than 2.5% but slightly higher than an intraday low of $4,369.40.Silver tumbled more than 6% to $69.44 as of 11 a.m. EST, but it plunged even further to $68.92 earlier in the day. Silver slipped under $69 for the first time since its price plunged in late March, while the cost of gold also fell to its lowest level in more than two months. The prices plunged within hours of the Bureau of Labor Statistics releasing stronger-than-expected jobs data, reporting the United States added 172,000 nonfarm jobs in May and the unemployment rate remained at 4.3%.Bart Melek, global head of commodity strategy at TD Securities, told Reuters the strong jobs data makes it “quite unlikely that the Fed is in any mood whatsoever to lower rates,” noting the “implication for gold here is that the cost of carry is getting quite high.”Elias Haddad of Brown Brothers Harriman & Co. also attributed the plunging metals prices to a “firmer dollar,” as the U.S. dollar index is up 0.42% as of 11 a.m. EST. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd...