Silver July futures open at $67.84 per ounce, down sharply amid escalating Middle East conflict and Fed inflation focus.
Silver July futures opened at $67.84 per ounce on June 8, down 1.8% from Friday’s close, as renewed missile strikes between Iran and Israel rattled markets. Early trading saw prices dip further to $67.32 by 7:12 a.m. ET, extending losses alongside stock futures and pushing oil back toward $100 a barrel.
Last week, silver traded in the $74-$75 range, with the last $67-level opening occurring in late March. Year-over-year, silver remains up 90.3%, though this marks a sharp decline from the 173.3% growth recorded on May 14. The drop follows a stronger-than-expected U.S. jobs report, which has intensified Fed scrutiny on inflation ahead of key data releases this week.
Market sentiment soured as geopolitical risks escalated, overshadowing recent economic resilience. Traders are now eyeing upcoming inflation reports for clues on how the conflict may influence U.S. price pressures.