Silver

Key insight

Silver has rebounded sharply from its early-July lows (~$54) and is now testing the critical $60.00 round-number ceiling — a decisive break above this level would open the door to a run toward BlackRock and J.P. Morgan's year-end target of $80+, while geopolitical uncertainty from the US-Iran conflict provides an ongoing safe-haven floor.

Silver is trading at $59.67, holding above the key $58.00 psychological support and pressing toward the $60.00 round-number resistance, supported by geopolitical safe-haven demand and a rising gold complex (XAU/USD +1.2% today at $4,127).

Main risk

US-Iran Conflict Escalation Driving Rate Hike Fears

An extended US-Iran war raises the probability of additional Fed tightening later in 2026, increasing the opportunity cost of holding non-yielding silver and potentially reversing the current rebound from the $54 July low.