Silver July futures rise over 1% as Middle East tensions ease and expectations grow for steady Fed rates this week.
Silver July futures opened at $68.90 per ounce, up 1.4% from Friday’s close of $67.97, and climbed to $70.75 in early trading. The rally follows a ceasefire agreement between the U.S. and Iran, reducing geopolitical risks and easing inflation concerns tied to oil price declines.
Prices have fluctuated sharply in recent months, down 14.5% over the past month but up 90.3% year-over-year. A month earlier, silver’s annual growth stood at 173.3%, reflecting volatility in precious metals markets.
The Fed’s anticipated decision to hold rates steady this week has further supported silver’s upward momentum, as lower interest rates typically boost non-yielding assets like precious metals.