Spot Silver held mostly steady above the $36.00 mark on Friday, following recent pullback from a 13-year high.
The white metal remained underpinned by robust industrial demand, persistent supply deficit and its safe-haven appeal amid continuing macroeconomic and geopolitical uncertainty.
Israel said it had initiated widescale strikes against Iran on Friday, targeting nuclear facilities, ballistic missile factories and military commanders, as tensions intensified over US efforts to prevent the Islamic state from building an atomic weapon.
In response, Iran had launched nearly 100 drones heading towards Israel.
On the data front, US initial jobless claims stood at an eight-month high during the past week, indicating labor market cooldown.
Additionally, slowing domestic demand restrained producer inflation in May. The latter, taken in conjunction with softer CPI inflation added to expectations of an earlier Fed rate cut.
Markets are now pricing in 55 basis points of rate cuts by year-end, as early as September rather than October.
Spot Silver was last down 0.08% on the day to trade at $36.33 per troy ounce.
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