2026.03.3014:33:38UTC+00Silver Rises Above $70.5

Silver prices climbed above $70.50 per ounce on Monday as the market weighed cautious optimism over a potential diplomatic breakthrough with Iran against ongoing concerns about physical supply disruptions and Houthi activity in the Red Sea. President Trump pointed to serious negotiations with what he described as a more reasonable Iranian regime aimed at ending the five-week conflict, yet silver remains highly sensitive to his warning that failure to reopen the Strait of Hormuz could result in the destruction of Iranian infrastructure.

Even after the latest rebound, silver is still trading nearly 30% below its March peak. The earlier energy shock, which drove Brent crude to $115 per barrel, continues to fuel global inflation fears and constrain central banks’ policy options. A firmer US dollar is also limiting further gains by making silver more expensive for international buyers, while investors increasingly shift toward US Treasuries as mounting concerns over potential supply shortages begin to weigh on growth expectations.

With the market now awaiting key US employment data, the near-term trajectory for silver will largely depend on whether the current peace initiative in the region gains traction and delivers a durable de-escalation.