Silver prices slipped below $30 per ounce on Monday, reversing some of last week's gains, as the dollar strengthened following stronger-than-expected US jobs data. The data dampened expectations for further interest rate cuts by the Federal Reserve this year, and a stronger dollar makes dollar-denominated commodities like silver more expensive for buyers holding other currencies, reducing demand. Looking ahead, investors are focused on US inflation data this week for further insights into the Fed's policy direction. Despite the recent pullback, silver had surged nearly 3% last week, marking its best weekly performance since mid-November. The metal’s value continues to be supported by strong industrial demand, particularly in renewable energy technologies and electronics, as well as ongoing supply concerns.
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