Silver Prices Rally Towards $60 Amid Falling Oil and Dollar

Silver prices surged towards $60 an ounce on Monday as oil and dollar prices fell. The precious metal's rebound was stronger than gold's, climbing 2.8% to $59.81 in early Asian trading.

The move followed a pause in US-Iran attacks, which reduced fears of an imminent disruption to regional energy supplies. Silver's dual identity as both a precious metal and industrial commodity amplified its price swings, making it more sensitive to changes in economic sentiment.

A weaker US dollar provided another tailwind, lowering the cost of silver for buyers using other currencies and improving demand across the wider metals market. The combination of improved risk appetite, a softer dollar, and silver's industrial demand story brought the $60 level back within reach.