September silver futures open at $59.81 per ounce, marking the first multi-timeframe gain since May amid geopolitical de-escalation.
Silver September futures (SI=F) opened at $59.81 per ounce on July 27, up 1.5% from Friday’s close, as the U.S. paused airstrikes to revive peace negotiations. Prices stabilized at $59.10 by 8:41 a.m. ET, extending gains across daily, weekly, monthly, and yearly comparisons for the first time since May.
The metal’s year-over-year growth reached 53.6%, down from a peak of 173.3% on May 14. Over the past week, silver rose 7.5%, while the one-month gain stood at 1.0%. Analysts note sustained trends hinge on long-term peace and restored oil flows through the Strait of Hormuz.
Markets also eye the Fed’s upcoming decision, with a 66.3% probability of unchanged rates, per CME Group’s FedWatch tool. Higher rates typically weigh on silver, which yields no interest.