Silver Gains as Oil Prices Ease

2026-06-02 06:37 By Jam Kaimo Samonte 1 min. read

Silver climbed above $76 per ounce on Tuesday, recovering recent losses as a pullback in oil prices helped temper inflation concerns, even as US-Iran peace negotiations remained deadlocked.

On Monday, Iranian media reported that Tehran had suspended communications with Washington in response to Israeli attacks in Lebanon.

Meanwhile, President Donald Trump said talks are still ongoing and indicated that a memorandum of understanding with Iran to reopen the Strait of Hormuz could be reached as soon as next week.

Despite the easing in oil prices, markets continue to price in a Federal Reserve rate hike before year-end after US inflation accelerated, largely driven by the Middle East conflict.

Investors are now awaiting Tuesday’s JOLTS job openings report ahead of the closely watched US monthly employment data on Friday for further insight into the Fed’s policy outlook.



News Stream
Silver Gains as Oil Prices Ease
Silver climbed above $76 per ounce on Tuesday, recovering recent losses as a pullback in oil prices helped temper inflation concerns, even as US-Iran peace negotiations remained deadlocked. On Monday, Iranian media reported that Tehran had suspended communications with Washington in response to Israeli attacks in Lebanon. Meanwhile, President Donald Trump said talks are still ongoing and indicated that a memorandum of understanding with Iran to reopen the Strait of Hormuz could be reached as soon as next week. Despite the easing in oil prices, markets continue to price in a Federal Reserve rate hike before year-end after US inflation accelerated, largely driven by the Middle East conflict. Investors are now awaiting Tuesday’s JOLTS job openings report ahead of the closely watched US monthly employment data on Friday for further insight into the Fed’s policy outlook.
2026-06-02
Silver Pressured by Inflation Worries
Silver traded around $75 an ounce on Tuesday, struggling to gain traction as stalled peace negotiations between the US and Iran kept inflation risks and interest rate concerns in focus. On Monday, Iranian media reported that Tehran had suspended communications with Washington in response to Israeli attacks in Lebanon. Meanwhile, President Donald Trump said discussions are still ongoing and suggested that a memorandum of understanding with Iran to reopen the Strait of Hormuz could be reached as early as next week. Markets are currently factoring in a Federal Reserve rate hike before year-end after US inflation accelerated, driven in large part by the Middle East conflict. Investors are now awaiting this week’s US monthly jobs report and comments from Fed officials for additional clues on the future path of monetary policy.
2026-06-02
Silver Drops as Rate Hike Fears Weigh on Markets
Silver reversed early gains to trade below $75 an ounce in the first June session, remaining far from the two-month peak of $89.4 seen in mid-May. Rising oil prices, spurred by fresh Iran-US strikes and Iran’s suspension of communications with the US over Israel’s attacks on Lebanon, fueled inflation concerns and reinforced expectations of prolonged higher interest rates. Over the weekend, both sides exchanged proposals to revise a draft deal aimed at extending the ceasefire and reopening the Strait of Hormuz, though meaningful progress remains uncertain. Traders now see a roughly 60% chance of at least one US rate hike by year-end. Attention also shifts to this week’s US jobs data and upcoming remarks from Federal Reserve officials.
2026-06-01