Silver Rebounds to $73 but Faces Worst Month Since 2011

2026-03-31 13:11 By Joana Ferreira 1 min. read

Silver rose to $73 per ounce on Tuesday, drawing some buying interest at lower levels, but remained on track for its biggest monthly drop in over 14 years.

The metal has plummeted more than 20% in March, its sharpest decline since September 2011, and now trades nearly 40% below the record highs reached in late January.

The escalating Middle East conflict has disrupted global energy markets and intensified inflation concerns, prompting investors and central banks to adopt a more hawkish stance on interest rates.

With Iran maintaining its blockade of the Strait of Hormuz, the crisis has driven a surge in oil prices, reinforcing expectations of tighter monetary policy.

Traders have fully abandoned bets on US rate cuts in 2026, a dramatic shift from pre-war forecasts of two cuts, despite Fed Chair Jerome Powell’s reassurance that long-term inflation expectations remain contained.

The US dollar has emerged as the dominant safe haven, weighing heavily on silver and other precious metals.



News Stream
Silver Rebounds to $73 but Faces Worst Month Since 2011
Silver rose to $73 per ounce on Tuesday, drawing some buying interest at lower levels, but remained on track for its biggest monthly drop in over 14 years. The metal has plummeted more than 20% in March, its sharpest decline since September 2011, and now trades nearly 40% below the record highs reached in late January. The escalating Middle East conflict has disrupted global energy markets and intensified inflation concerns, prompting investors and central banks to adopt a more hawkish stance on interest rates. With Iran maintaining its blockade of the Strait of Hormuz, the crisis has driven a surge in oil prices, reinforcing expectations of tighter monetary policy. Traders have fully abandoned bets on US rate cuts in 2026, a dramatic shift from pre-war forecasts of two cuts, despite Fed Chair Jerome Powell’s reassurance that long-term inflation expectations remain contained. The US dollar has emerged as the dominant safe haven, weighing heavily on silver and other precious metals.
2026-03-31
Silver Set for Sharp Monthly Drop
Silver rose above $72 per ounce on Tuesday as oil prices eased, but remained on track for a decline of more than 20% in March, marking its worst monthly performance since September 2011. Precious metals faced persistent pressure this month from an oil-driven inflation shock that pushed investors and policymakers toward a more hawkish interest rate stance. The Middle East conflict has now entered its fifth week with no signs of easing, as Iran has effectively closed the Strait of Hormuz and threatened to disrupt Red Sea shipping. Meanwhile, Jerome Powell said long-term US inflation expectations appear anchored despite heightened uncertainties linked to the conflict and noted that the central bank’s policy stance allows officials to gauge the economic impact of the Iran war.
2026-03-31
Silver Rises Above $70.5
Silver prices rose above $70.5 per ounce on Monday as the market balanced tentative optimism regarding a diplomatic resolution in Iran against the persistent threat of physical supply shortages and Houthi activity in the Red Sea. While President Trump cited serious discussions with a more reasonable regime to end the five-week conflict, silver remains sensitive to his warning that failure to reopen the Strait of Hormuz will lead to the obliteration of Iranian infrastructure. Despite the rebound the metal remains nearly 30% below its March peak as the energy shock to $115 Brent crude continues to stoke global inflation concerns and limit policy flexibility. A strengthening US dollar further caps gains by increasing costs for overseas buyers while investors pivot toward Treasuries as growth concerns from potential shortages begin to manifest. As the market awaits key US jobs data the trajectory for silver hinges on the current peace plan's success.
2026-03-30