Silver dropped back below $60 on July 8, 2026 after U.S. airstrikes against Iran rattled commodity markets. September futures opened at $60.31, down 1.7% from the day before, and spot prices touched $59.03 during the morning session as rising oil renewed inflation worries.
Silver fell after U.S. airstrikes against Iran, with September futures opening at $60.31, down 1.7% from Tuesday's opening. By 8:33 a.m. ET the spot price had slipped to $59.03, pushing the metal back under the $60 mark.
The decline followed U.S. airstrikes against Iran, launched in retaliation for Iranian attacks on merchant vessels in the Strait of Hormuz. President Trump downplayed the prospect of a lasting ceasefire, saying: "For me, I think it's over."
Oil prices rose after the hostilities and the president's comments, which renewed inflation concerns. According to Yahoo Finance, those renewed inflation pressures sent gold and silver lower as Fed rate hikes returned to the forefront of investors' minds.
The single-day slide sits against an uneven track record. Silver was up 2.4% from a week earlier and up 64.4% year-over-year, yet down 10.6% over the past month. Silver carries more industrial demand than gold — solar panels, electronics, and medical devices all use it — which makes its prices more volatile than gold, a metal governments hold mainly as a store of value and inflation hedge.
Source: Yahoo Finance
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