Silver climbs toward $60 on Monday as the US-Iran pause and falling oil lift precious metals

Global silver prices rose in trading on Monday, 27 July 2026 (5 Mordad 1405), approaching the $60 an ounce mark. Silver futures for September delivery opened at $59.81, about 1.5 percent above Friday's closing price. Spot silver was reported during the same day in a range of $59.15 to $59.43, against Friday's close of $58.12.

The main driver was the pause in strikes between the United States and Iran, which pushed oil prices lower and eased concerns about energy-driven inflation and the prospect of tighter Federal Reserve policy, the same mechanism that worked in reverse in recent weeks when crude surged. Spot gold traded around $4,094 an ounce the same day. The Federal Open Market Committee meets on 6 and 7 Mordad.

Silver is up 53.35 percent compared with the same time last year. Alongside the short-term rate factor, analysts point to shrinking physical inventories and a structural gap between supply and industrial demand, particularly solar panel demand, as the longer-term support for the market. The global price is the pricing benchmark for silver in Iran's domestic market once the exchange rate is factored in.