Silver Prices Slip Below $58 as Geopolitics Meets Monetary Pressures

Silver prices are stuck in a precarious balancing act as the metal struggles to find its footing amidst geopolitical tensions and rising interest rates.

The recent surge in crude oil prices, coupled with ongoing US strikes on Iran and President Trump's threat of military punishment, has fueled inflation fears, causing the 10-year US Treasury yield to climb to nearly 4.7 percent, its highest level since January 2025.

This toxic combination for silver, which carries no yield, has led to a 3.46 percent decline in prices on July 23, with the metal settling at $57.64 per ounce.

Major banks such as JP Morgan, Goldman Sachs, and HSBC are betting on higher prices in the future, with consensus estimates ranging from $75 to $150 per ounce by 2026.