Silver Nears Two-Week High on Safe-Haven Demand

2026-07-22 12:31 By Joana Ferreira 1 min. read

Silver climbed to $60 an ounce on Wednesday, its highest level since July 10, as safe-haven demand and technical buying gained momentum amid escalating Middle East tensions and ahead of next week's Federal Reserve meeting.

Geopolitical concerns intensified after President Donald Trump warned of further strikes on Iran and pledged retaliation if Iran-backed Houthi rebels disrupt shipping through the Red Sea.

Meanwhile, Secretary of State Marco Rubio said the US remains open to a deal with Iran but questioned whether Tehran is willing to accept terms acceptable to Washington.

Despite the rally, silver remained below the record highs reached in January, as elevated oil prices have reinforced inflation concerns and expectations that the Federal Reserve may need to keep monetary policy restrictive.

Markets currently price in two 25-basis-point rate hikes by March 2027, with about a 70% probability of the first increase coming as early as September.



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