Silver and stocks dropped after a much better-than-expected US jobs report raised fears the Fed could raise interest rates again — bad for silver holders, good for anyone waiting to buy cheaper.

• August hiring came in about three times higher than forecast, and earlier months were revised up instead of down.
• Higher interest rates hurt silver because bonds and savings accounts start paying more, and silver pays nothing.
• The Fed may not even need to raise rates — just hinting at it is enough to push markets down.
• Wage growth has been slowing since 2022 while food and energy costs stay high, so people are still falling behind.
• The dollar is weaker than it was three years ago, which gives the Fed another reason to keep rates high and attract buyers of dollars.

Outlook: Silver likely falls further in the near term before any sharp rebound, and a weaker stock market would mean less overtime and tighter budgets for ordinary workers.