September silver futures surge 1% to open at $65.94, the highest level since June, driven by Fed rate cut bets and geopolitical risks.
Silver September futures opened at $65.94 per ounce on August 11, 2026, marking a 1% gain from Monday’s close. Prices climbed to $65.45 by 8:00 a.m. ET, extending a rally fueled by last week’s weaker-than-expected jobs report, which reduced expectations for a Fed rate hike in September.
The metal has surged 13.5% over the past week and 73.3% year-over-year, though growth has moderated from a 173.3% annual gain recorded in mid-May. Investors are also flocking to precious metals amid escalating tensions between the U.S. and Iran, which threaten to disrupt oil flows through the Strait of Hormuz.
Two upcoming inflation reports this week are expected to provide further direction for silver’s near-term trajectory.