Silver (SI=F) September futures opened at $57.95 per ounce on Tuesday, July 14, 2026, 0.1% higher than Monday’s closing price.
The price of silver was mostly stable this morning, shifting to $57.74 per ounce as of 8:09 a.m
ET. The ongoing deterioration of peace in the Middle East continues to drive precious metal prices lower. Silver opened at its lowest price this morning since December 9, 2025.
Silver’s year-over-year price gain of 48.2% (see below) is our lowest YOY gain on record. With the U.S. claiming it is reinstating its naval blockade on Iranian ports and instituting a 20% fee to guard the world’s ships passing through the Strait of Hormuz, oil prices continue to move higher. At the time of publication, Brent crude prices are up nearly 14% over the last five-day period, heightening inflation concerns and prolonging the time rates will remain at current levels or even rise.