Silver prices surge over 2% as diplomatic progress between the US and Iran reduces geopolitical risk premiums in commodity markets.
Silver prices climbed more than 2% to near $60.00 during Asian trading on Monday, extending gains as tensions between the US and Iran showed signs of de-escalation. The pause in military aggression eased concerns over supply disruptions in oil markets, lifting risk sentiment across commodities.
The move follows a period of heightened volatility in precious metals, driven by geopolitical uncertainty. Silver had previously traded in a tight range below $59.00, with investors monitoring Middle East developments closely. The latest rally aligns with a broader uptick in industrial metals and energy prices.
Market participants are now assessing whether the diplomatic thaw will sustain, with silver’s dual role as a safe-haven and industrial asset in focus.