Silver Rises Over 120% YTD 
Gold experienced a significant 1% decline on Thursday, falling to $3,325.48 per ounce, as robust U.S. employment data reshaped market expectations about Federal Reserve monetary policy. The June jobs report showed 147,000 new positions created, substantially exceeding economists’ predictions of 110,000.
This economic strength led investors to reduce their expectations for interest rate cuts from 66 basis points to just 53 basis points by year-end, with the first cut now anticipated in October rather than July. The stronger employment picture boosted the U.S. dollar, making gold more expensive for international buyers.
Additionally, Republicans advanced a major tax-cut bill that could add $3.4 trillion to national debt, though analysts suggest this growing indebtedness might eventually support gold prices. Other precious metals also declined, with silver down 0.2%, platinum falling 2.9%, and palladium dropping 2.3%.
