Silver Holds Firm as Crude Price Volatility Reignites

Silver prices have held their ground despite elevated US Treasury yields and crude oil prices near $100. The precious metal turned higher on Friday as crude and yields backed off, allowing buyers to enter the market.

The recent surge in inflation pressure had been expected to weigh heavily on silver, but a covering rally has stalled the rate picture. Fed funds futures still price a meaningful chance of a hike at next week's meeting, with a hold remaining the most likely outcome.

The bond market has already been doing the tightening work on its own, and a statement focused on elevated energy costs and sticky inflation could put pressure back on silver without a rate increase. With Iran restricting Hormuz traffic and Saudi Red Sea routes under pressure after Houthi attacks, crude remains in control, and a fresh escalation could send prices back toward triple digits.