Where silver stands
Spot silver is trading near $59.80 per ounce, little changed on the day, with gold similarly flat. The gold-silver ratio sits near 69.
The macro backdrop is quiet: the US Dollar Index is near 101 and the US 10-year yield is around 4.57%. Stepping back, the 12-week trend chart shows the COMEX continuous future has fallen from a late-April high above $80 to near $60 — silver now sits close to the low end of its three-month range.
What moved the market
US data through the week leaned soft-to-mixed. Initial jobless claims printed 215k against a 218k forecast — still firm — while existing home sales came in at 4.09M versus 4.19M expected, and the ISM non-manufacturing PMI eased to 54.0 with its prices component elevated at 67.7.
There was no standalone driver for silver; the broader tape has been consolidating ahead of the inflation data later in the week.