FX.co ★ Silver Finds Support

Silver climbed above $81 per ounce on Tuesday, supported by a weaker dollar and easing Treasury yields as oil prices declined, helping to moderate inflation worries. Crude retreated at the start of the week after several tankers passed safely through the Strait of Hormuz. US Treasury Secretary Scott Bessent said Washington is allowing Iran to continue shipping crude through the strait, while President Donald Trump is seeking international backing to protect commercial traffic in the region. Markets are also pricing in a likely rate hold by the US Federal Reserve this week as policymakers contend with uncertainties linked to the Iran war. Silver’s advance is further supported by a projected 67 million-ounce supply deficit in 2026 and robust industrial demand, particularly from the electronics sector.