Silver prices attracted some sellers near $30.20 during the early European session on Monday (13/1). A stronger greenback and rising US bond yields weighed on the USD-denominated commodity prices.
Expectations of a slower pace of interest rate cuts from the US Federal Reserve (Fed) this year amid sluggish inflation and a strong labor market in the US economy could drag the white metal lower in the near term.
The US Bureau of Labor Statistics (BLS) reported on Friday that Nonfarm Payrolls (NFP) rose by 256,000 in December compared to 212,000 previously, better than the estimate of 160,000. Additionally, the Unemployment Rate fell to 4.1% in December from 4.2% in November.
Until this News Release, Silver Price is at Level $ 29,637
Source: Newsmaker.id
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