Silver Remains Volatile as Dollar Rebounds

2026-03-05 06:17 By Jam Kaimo Samonte 1 min. read

Silver traded around $83.5 per ounce on Thursday, shifting between gains and losses as the dollar rebounded amid heightened uncertainty surrounding the US-Iran conflict.

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

A US submarine sank an Iranian warship off the coast of Sri Lanka, with Defense Secretary Pete Hegseth describing the strike as the “first such attack on an enemy since World War II.” Reports also surfaced that Iranian operatives had reached out to the US to explore possible peace talks, though Tehran later denied the outreach.

Meanwhile, the Trump administration sought to reassure markets about the continuity of commercial activity in the Gulf.

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



News Stream
Silver Falls Sharply as Iran Conflict Fuels Dollar, Rate Fears
Silver prices plunged slid over 2% to around $73 per ounce, dragged down by a rising US dollar and oil prices after President Donald Trump vowed to escalate attacks on Iran, fueling inflation concerns and shifting market expectations from pre-war rate cut hopes to the likelihood of unchanged Federal Reserve policy in 2026. While Trump claimed US forces had "nearly accomplished" their military goals, he offered no exit strategy for the month-long war, instead pledging to strike Iran "extremely hard" over the next "two to three weeks." Tehran, on the other hand, denied Trump’s claim that it had requested a ceasefire, insisting the Strait of Hormuz remains under IRGC control. The dollar’s safe-haven surge pressured precious metals, with silver already down more than 20% since the conflict erupted on February 28.
2026-04-02
Silver is down by 5%
Silver decreased 5% to 71.326 USD/t.oz
2026-04-02
Silver Slides Over 6%
Silver prices slid more than 6% toward $70 per ounce on Thursday as the US dollar gained ground following President Donald Trump’s prime-time address. Trump offered no clear end date for the Middle East conflict and noted that the US had nearly achieved its strategic goals in Iran but cautioned that the military campaign could intensify over the next two to three weeks. The remarks pushed the US dollar higher, as it has recently emerged as a safe-haven asset, putting pressure on dollar-denominated precious metals. Meanwhile, oil prices climbed again, stoking inflation worries and fueling expectations of tighter monetary policy, which in turn pushed yields higher and added further pressure on dollar-based assets. Markets have recently ruled out any US rate cuts in 2026, a sharp shift from pre-war projections of two reductions.
2026-04-02