Silver Declines to 7-Week Low

2026-09-28 00:17 By Jam Kaimo Samonte 1 min. read

Silver dropped toward $61 an ounce on Monday, hitting its lowest levels in seven weeks as stalled US-Iran negotiations kept oil prices elevated and reinforced expectations for additional Federal Reserve tightening to curb inflation.

President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran had overplayed its hand while adding that he expects talks to resume this week.

Meanwhile, Iran said it would not soften its conditions for reopening the strategically important waterway.

In the US, several Fed officials cited resilient economic growth and a robust labor market as reasons additional rate hikes could be necessary.

Cleveland Fed President Beth Hammack said those factors, together with concerns over government debt, are contributing to higher long-term Treasury yields.

Investors now await the Fed’s preferred inflation gauge and key US jobs data due this week, which could provide further clues on the path of monetary policy.



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