Silver drops despite falling dollar ahead of the US jobs report

Silver prices fell on Friday, despite the US dollar's slip against its peers ahead of the US monthly jobs report.

Analysts forecast that the US economy has added nearly 1 million jobs (990,000 new jobs) during April, but the unemployment rate rose to 7.8% from 7.5%.

This indicates that the US economy is continuously recovering from the pandemic impact, especially after the US success in containing the outbreak by distributing tens of millions of vaccines.

The dollar index fell against a basket of currencies by 0.1% 90.8 points as of 12:05 GMT, after it hit a high of 90.9 points and a low of 90.7 points.

Silver July futures fell 0.8% to $27.325 an ounce, with high of $27.680 and a low of $27.320