Global silver jumps more than 3% Tuesday to around $59, a one-week high

Silver climbed more than 3% in Tuesday's session (30 Tir 1405, 21 July 2026), reaching around $59 an ounce, and touched roughly $59.7 during the day, its highest in about a week. Some estimates put the daily gain at close to 5%.

The main driver was a pause in the oil-price rally and market hopes that mediators could revive negotiations and a ceasefire between the United States and Iran, easing fears of energy-driven inflation and, in turn, the odds of a Federal Reserve rate hike, which supported precious metals. Technically, silver also broke the descending trendline of the past several weeks.

Silver had fallen about 9% over the previous month but remains roughly 50% higher than a year ago. Tuesday's advance came alongside global gold's return above $4,000 an ounce.