Strong U.S. Jobs Data Boosts Dollar, Yields; Silver Slides Below $70/oz

Published: Jun 8, 2026 09:10

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[SMM Silver Express] U.S. nonfarm payrolls increased by 172,000 in May, exceeding market expectations, while payroll gains for March and April were revised upward by a combined 93,000. Following the data release, the U.S. Dollar Index climbed above the 100 mark and the benchmark 10-year U.S. Treasury yield rose to 4.52%, as expectations for Federal Reserve rate cuts weakened. Meanwhile, U.S. technology and AI-related stocks broadly declined, with semiconductor shares leading losses and risk assets coming under pressure. Against the backdrop of a stronger U.S. dollar, higher Treasury yields, and weaker market risk appetite, precious metals experienced broad-based selling. Spot silver fell below the US$70/oz level during the session and ultimately closed down 8.11% at US$67.88/oz.

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