Silver climbs even as gold slips, reaching about $57 an ounce

Global silver rose on Monday, July 20, unlike gold, reaching about $57 an ounce, a gain of roughly 1.5 percent from Friday, when silver had closed near $56. Gold, meanwhile, stayed below the $4,000 mark and near a nine-month low.

The divergence between the two metals reflects silver's larger industrial role. Industrial demand in electronics, solar panels and medical equipment, along with silver's status as a cheaper safe haven, has made it more resilient to the pressure from expectations of a Fed rate hike that is weighing on gold. Silver has gained more than $18 over the past year. These prices are the global benchmark, and Iran's domestic silver price follows them once the exchange rate is factored in.