Silver closes higher, but logs weekly loss
Silver prices rose on Friday, while the US dollar fell against most of its peers after the disappointing US data, but silver posted a weekly loss.
The US Department of Labor reported that the economy has added 559K new jobs in May, missing forecasts of 645K.
The US unemployment rate fell to 5.8% in May from 6.1% in April, better than analysts' forecasts of 5.9%.
The ADP Non-Farm Employment Change reading showed yesterday a rise by 978K jobs in May, while analysts forecast 645K.
The dollar index fell against a basket of major currencies by 0.4% to 90.1 points as of 19:09 GMT, after hitting a high of 90.6 points and a low of 90.1 points.
Silver July futures rose 1.5% or 42 cents, and closed at $27.90 an ounce, and posted a weekly loss of 0.4%.
US stocks finish higher, post weekly gains
US stock indices rose on Friday, despite the release of disappointing monthly jobs report.
The US Department of Labor reported that the economy has added 559K new jobs in May, missing forecasts of 645K.
The US unemployment rate fell to 5.8% in May from 6.1% in April, better than analysts' forecasts of 5.9%.
The ADP Non-Farm Employment Change reading showed yesterday a rise by 978K jobs in May, while analysts forecast 645K.
To the oil market, WTI crude July futures rose 1.2% or 81 cents, and closed at the highest level since October 2018 at $69.62 a barrel, with a weekly gain of more than 5%, after hitting a high of $69.7 and a low of $68.3.
Brent August futures rose 0.8% or 58 cents, and closed at $71 a barrel, with a weekly gain of 4.6%, after hitting a high of $72.1 and a low of $70.7.
As for stocks, Dow Jones rose 0.5% or 179 points, and closed at 34,756, and posted a weekly gain of 0.7%, with a day high of 34,772, and a low of 34,618.
Nasdaq rose 1.5% or 200 points to 13,814, and registered a 0.5% weekly gain, with a high of 13,826 and a low of 13,692.
S&P 500 rose 0.9% or 37 points to 4,229, and posted weekly gains of 0.6%, after hitting a high of 4,233 and a low of 4,206.
Canadian economy loses more jobs than expected in May
At 13:30 GMT, the Canadian economy released its employment change reading, which showed losing 68K in May, worse than forecasts of -23.5K new jobs, but better than the previous reading of -207.1K. This data is negative for the Canadian dollar.