Commodities
Silver Soars on Eased Tensions with Iran
Silver prices surged on Monday, rising more than 1% to $59 an ounce, as tensions between the US and Iran eased following a pause in hostilities.
The decline in oil prices, particularly Brent crude, which retreated from two-month highs, helped alleviate inflation concerns and reduced expectations of further aggressive Federal Reserve tightening ahead of this week's policy meeting.
Investors are now focused on the Fed's decision on Wednesday, with markets currently pricing in a 30% chance of a rate hike this week and an 80% probability of another increase in September.