Silver September futures fall to $58.45 as U.S.-Iran conflict escalates and oil prices surge, fueling Fed rate hike expectations.
Silver September futures (SI=F) opened at $59.04 on July 15, 2026, down 0.1% from the prior session, before sliding further to $58.45. Prices remain stuck below $60 an ounce as U.S.-Iran military strikes enter a fourth day, disrupting market stability.
Over the past week, silver has declined 3.1%, with a 15.7% drop over the last month. Year-over-year, prices are still up 54.2%, though growth has slowed from a peak of 173.3% in mid-May. The recent retreat aligns with softer June inflation data, but renewed geopolitical risks have pushed oil prices up 9% in five days.
The Fed is now weighing rate hikes in September to counter rising energy costs, adding downward pressure on silver. The metal’s failure to breach $60 reflects broader risk aversion amid persistent conflict.