Silver Futures Slide Below $73 as Jobs Data, Geopolitics Weigh

Silver futures (SI=F) declined in early trading Friday, June 5, 2026, as investors braced for the May U.S. employment report and after Hezbollah reportedly rejected an Israel-Lebanon ceasefire. The July contract fell to $73.03 per ounce by 7:03 a.m. ET, after opening at $74.18—up 0.3% from Thursday's open. The pullback mirrored gold's drop as both metals retreated ahead of the payrolls release, expected to show further job growth and steady unemployment. Silver has traded in a tight range this week, with Friday's open nearly matching Monday's level, underscoring its resilience despite daily negative headlines. Year-over-year gains stood at 173.3% as of May 14, highlighting the metal's strong rally. The jobs report could shift Federal Reserve policy expectations and the U.S. dollar, influencing precious metals. Silver's stability at elevated levels contrasts with its reputation for higher volatility than gold.