Gold, Silver Prices Take a Hit, Russia Makes Bold Gold Claim

Gold and silver were pressured after a stronger-than-expected US jobs report reinforced the “higher for longer” rates narrative, lifting real-yield expectations and weighing on non-yielding metals. The description does not give exact price levels, but the key takeaway is that the latest labor data has shifted near-term momentum bearish for XAU and XAG. The video also flags skepticism around Russia’s latest annual gold production estimate, which could matter for supply narratives if the claim is challenged or revised. On the fundamental side, that leaves the market balancing tighter monetary expectations against questions over official production reporting and broader mining transparency. Near term, traders will likely keep focus on follow-through in US rates, the dollar, and any additional labor/inflation data that could extend the post-payrolls selloff. Without a clearer dovish shift, gold and silver may struggle to regain traction; the Russia production angle is more of a secondary supply-side headline unless it develops into a verified change in output estimates.