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Higher Rates And Improved U.S. Labor Market Hold Back SLV

The latest non-farm payroll report showed a better-than-expected result of 257,000 jobs gain in January - the market expectations were at 236,000. This news contributed to the latest fall in iShares Silver Trust ETF (SLV), which lost 3.3% on Friday and nearly 9% from its high back in January 22nd. Here are the latest developments in the U.S. economy and its relation to the progress of SLV.

The table below shows the relation between the changes in the non-farm payroll and the price of SLV in the past few reports. This time, the non-farm payroll came well above market expectations, which has led to a fall in the price of SLV. Another positive result was the revisions for December and November, which, combined, reached 147,000 more jobs than previously estimated.

(click to enlarge)

Source of data taken from Bureau of Labor Statistics

The latest U.S. labor report also showed a… Read More …