Silver Extends Gains Despite Rising Oil Prices

2026-07-22 00:06 By Jam Kaimo Samonte 1 min. read

Silver climbed toward $60 an ounce on Wednesday, extending gains from the previous session as investors continued to monitor Middle East uncertainties and rising oil prices and their impact on inflation and interest rates.

President Donald Trump downplayed the chances of near-term talks with Iran and warned of additional strikes, lifting oil prices.

Iran-backed Houthi rebels in Yemen also disrupted shipping through the Red Sea, while a series of attacks on the Caspian Pipeline Consortium terminal along Russia’s Black Sea coast added to supply concerns.

Meanwhile, ADP data showed US private employers added an average of 16,500 jobs per week over the four weeks ending July 4, down from an average weekly gain of 19,250 in the prior four-week period, marking a fourth straight slowdown in hiring.

Markets widely expect the Federal Reserve to leave interest rates unchanged at next week’s meeting, while pricing in more than a 55% chance of a rate hike in September.



News Stream
Silver Extends Gains Despite Rising Oil Prices
Silver climbed toward $60 an ounce on Wednesday, extending gains from the previous session as investors continued to monitor Middle East uncertainties and rising oil prices and their impact on inflation and interest rates. President Donald Trump downplayed the chances of near-term talks with Iran and warned of additional strikes, lifting oil prices. Iran-backed Houthi rebels in Yemen also disrupted shipping through the Red Sea, while a series of attacks on the Caspian Pipeline Consortium terminal along Russia’s Black Sea coast added to supply concerns. Meanwhile, ADP data showed US private employers added an average of 16,500 jobs per week over the four weeks ending July 4, down from an average weekly gain of 19,250 in the prior four-week period, marking a fourth straight slowdown in hiring. Markets widely expect the Federal Reserve to leave interest rates unchanged at next week’s meeting, while pricing in more than a 55% chance of a rate hike in September.
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Silver jumped more than 4% to $59 an ounce on Tuesday as investors monitored diplomatic efforts to ease the US-Iran conflict and assessed the implications for oil prices, inflation, and the Federal Reserve’s policy path. Reports suggested mediators are working to restart negotiations between Washington and Tehran, with a possible 10-day truce being discussed to help secure shipping routes through the Strait of Hormuz. The recent escalation pushed oil prices to a more than one-month high, intensifying concerns over renewed inflationary pressures. Some US policymakers have argued that rates may need to stay elevated for longer, or even rise further, to contain inflation. While the Fed is expected to hold rates steady next week, markets are pricing in more than a 60% chance of a rate hike in September.
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