Silver Approaches $59

2026-06-25 13:13 By Joana Taborda 1 min. read

Silver rebounded to approach $59 per ounce on Thursday, recovering from earlier losses and tracking modest gains across the precious metals complex.

The metal found support from a weaker US dollar and lower Treasury yields after the latest US PCE inflation report came in broadly in line with expectations.

While inflation remains well above the Fed’s 2% target, the data eased concerns about a sharper-than-expected acceleration in price pressures.

Meanwhile, oil prices continued to retreat and have now returned to levels seen before the outbreak of the Iran conflict, further alleviating inflation worries.

As a result, traders pared back expectations for additional monetary tightening, with the probability of a Fed rate hike in September falling to 63% from 68% the previous day.

Still, silver is down about 13% year-to-date and nearly 47% below its record high reached in January, before the outbreak of the conflict with Iran.



News Stream
Silver Approaches $59
Silver rebounded to approach $59 per ounce on Thursday, recovering from earlier losses and tracking modest gains across the precious metals complex. The metal found support from a weaker US dollar and lower Treasury yields after the latest US PCE inflation report came in broadly in line with expectations. While inflation remains well above the Fed’s 2% target, the data eased concerns about a sharper-than-expected acceleration in price pressures. Meanwhile, oil prices continued to retreat and have now returned to levels seen before the outbreak of the Iran conflict, further alleviating inflation worries. As a result, traders pared back expectations for additional monetary tightening, with the probability of a Fed rate hike in September falling to 63% from 68% the previous day. Still, silver is down about 13% year-to-date and nearly 47% below its record high reached in January, before the outbreak of the conflict with Iran.
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Silver dropped below $57 an ounce on Thursday, hitting its lowest levels since November last year as a stronger dollar and growing expectations of Federal Reserve rate hikes continued to weigh on prices. The US dollar rose to its highest level in more than a year against a basket of major currencies, making dollar-denominated commodities such as silver costlier for holders of other currencies. Last week, the Fed kept interest rates unchanged but signaled increasing support for tighter monetary policy, with Chair Kevin Warsh indicating his commitment to bringing inflation under control. Markets are now pricing in a possible rate hike in September, with additional increases potentially following before year-end. Those expectations have overshadowed the supportive effect of progress in US-Iran peace negotiations, which has driven oil prices back to pre-conflict levels and significantly reduced inflationary pressures.
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Silver prices fell about 5% to $59 per ounce on Wednesday, their lowest level since December, tracking broader weakness across the precious metals complex. The decline was driven by a stronger US dollar and growing expectations that the Fed will maintain a hawkish policy stance, prompting traders to increase bets on an interest-rate hike later this year. Markets currently assign a roughly 68% probability of a Fed rate increase in September, up from 29% a week ago. Silver and other precious metals also came under additional selling pressure as a sharp decline in US technology stocks led some investors to reduce bullion holdings to help offset losses elsewhere in their portfolios. Silver is now down about 13% year-to-date and nearly 47% below its record high reached in January, before the outbreak of the conflict with Iran.
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