Silver logs more than 4% weekly loss

Silver futures closed lower on Friday, as the US dollar rose against its counterparts, and the precious metal posted large weekly losses after the release of the US monthly jobs report.

The US Department of Labor revealed that the US economy has added 379,000 jobs during, better than forecasts of adding 197,000 new jobs, and the unemployment rate was at 6.2%, better than forecasts and the previous reading of 6.3%.

The yield of 10-year US Treasury bonds rose to 1.6%, which foreshadows more pressure on stocks.

The dollar index rose against a basket of major currencies by 0.4% to 91.9 points as of 21:18 GMT, after hitting a high of 92.1 points and a low of 91.6 points.

Silver May futures fell 0.7% or 17 cents, and closed at $25.287 an ounce, and posted a weekly loss of 4.5%.