Silver opened lower for a fourth straight session this week as renewed U.S.-Iran military strikes rattled precious metals. September futures still edged up 0.6% at the open, tracking gold, before climbing to $59.38 in early trading.
Silver's September futures opened at $58.88 per ounce on Thursday, July 9, up 0.6% from Wednesday's close of $58.54. The metal then moved higher through the morning, reaching $59.38 as of 8:17 a.m. ET.
Even so, silver's opening price has fallen each day this week, hitting a new weekly low Thursday morning. The slide came as the U.S. and Iran exchanged military strikes, all but eliminating their fragile ceasefire. As it tends to, silver has followed gold's price movements this week.
The renewed hostilities sent oil prices higher ahead of the Fed's next meeting at the end of this month. If the latest airstrikes halt traffic through the Strait of Hormuz for an extended period, inflation concerns will be reignited just before the Fed's next rate-setting meeting, and elevated interest rates put downward pressure on silver.
Where silver stands against past periods
Measured against earlier benchmarks, silver's opening price sat 1% below a week ago and 13.7% under a month ago. Over a longer horizon, the metal was up 61.8% from a year earlier. For context, silver's year-over-year growth reached 173.3% on May 14, 2026.
Source: Yahoo Finance
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