Silver rises about 1.2% on Wednesday to near $59.5 an ounce

Spot silver rose about 1.2% in Wednesday trading (22 July 2026) to around $59.5 an ounce, holding above roughly $58.8 at Tuesday's close. The move came in step with gold, which was changing hands above $4,100 an ounce at the same time.

Safe-haven demand amid the military tensions in West Asia and anticipation of the US Federal Reserve's 29 July meeting has supported precious metals. Silver's global trend matters for Iran's domestic market too, since local gold and coin prices usually track the international precious-metals path.