Silver Gains for Second Session

2026-03-05 02:45 By Jam Kaimo Samonte 1 min. read

Silver climbed toward $85 per ounce on Thursday, marking a second consecutive session of gains as uncertainty over the Iran conflict and a pullback in the dollar supported demand for precious metals.

The US-Israeli campaign against Iran has now entered its sixth day, keeping markets on edge for further escalation and the risk of a prolonged conflict.

A US submarine sank an Iranian warship off the coast of Sri Lanka, with Defense Secretary Pete Hegseth calling it the “first such attack on an enemy since World War II.” Silver also benefited from the dollar’s retreat following reports that Iranian operatives had reached out to the US to explore potential peace talks, though Tehran later denied the outreach.

Inflation concerns eased further as the Trump administration moved to reassure markets over commercial activity in the Gulf.

Meanwhile, US Treasury Secretary Scott Bessent said Trump’s recently announced 15% global tariff is expected to take effect later this week.



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