September silver futures recover from early losses amid heightened geopolitical risks following U.S. military casualties in Iran strikes.
Silver September futures climbed to $57.05 per ounce by 8:45 a.m. ET, reversing an initial 0.6% drop to $55.96 at Monday’s open. The rebound follows a violent weekend in the Middle East, where Iranian strikes killed three U.S. service members, raising geopolitical risks.
The metal remains under pressure from expectations of higher U.S. interest rates, as prolonged conflict could prompt tighter monetary policy. Silver’s opportunity cost rises with rate hikes, given its lack of yield. Year-over-year, silver is up 45.3%, though down 15.5% from a month ago.
Earlier this year, silver’s annual growth peaked at 173.3% in mid-May, highlighting its volatility amid macroeconomic and geopolitical shifts.