September silver futures rise to $59.81 per ounce amid paused U.S. airstrikes and expectations of Fed rate stability.
Silver September futures 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 talks. Prices reached $59.10 by 8:41 a.m. ET, marking the first positive trend across daily, weekly, monthly, and yearly comparisons since May.
The metal’s gains follow a 7.5% weekly increase, a 1% monthly rise, and a 53.6% year-over-year surge. Silver last saw multi-timeframe gains in May, when annual growth peaked at 173.3%. Analysts note sustained trends depend on long-term peace and restored oil exports via the Strait of Hormuz.
The CME Group’s FedWatch tool shows a 66.3% probability of unchanged rates after Wednesday’s Fed meeting, reducing pressure on non-yielding assets like silver.