Silver Declines on Renewed US-Iran Strikes

2026-07-12 23:58 By Jam Kaimo Samonte 1 min. read

Silver dropped below $59 an ounce on Monday, extending losses from last week as renewed missile strikes between the US and Iran drove oil prices higher, fueling expectations of interest-rate hikes to curb inflation.

The US carried out its fourth strike in a week against Iran on Sunday in retaliation for an Iranian attack on a Cyprus-flagged container ship.

Tehran declared that the Strait of Hormuz would be closed "until further notice," though the claim was dismissed by the US Central Command.

Investors are also awaiting key US inflation data due this week for further clues on the Federal Reserve's policy outlook.

Markets currently expect the Fed to deliver one more interest-rate hike before the end of the year.

Meanwhile, Fed Chair Kevin Warsh is scheduled to make his first appearance before the US Congress on Tuesday.



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