SILVER SURGES 7% TO NEAR $86 AS US-IRAN TALKS STALL AND INFLATION WORRIES MOUNT

Mon 11 May 2026:

Silver surged 7% to trade near $86 an ounce on Monday, recovering from earlier declines to reach its highest level in almost two months. The rally came as investors closely watched stalled negotiations between the US and Iran and weighed escalating geopolitical risks across the Middle East.

The precious metal climbed as high as around $85.5 per ounce, supported by safe-haven demand after US President Donald Trump dismissed Iran’s peace proposal as “totally unacceptable,” raising concerns over a possible renewal of conflict.

The gold also gained, with the spot gold prices rising 0.3% to $4,725 per ounce as of 1615GMT.

Weekend attacks in the Middle East also threatened a fragile ceasefire reached in April, while diplomatic efforts remained stalled.

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The Strait of Hormuz remains blocked, keeping oil prices elevated and adding to inflation concerns across major economies.

Expectations for two US Federal Reserve rate cuts this year have weakened, with market forecasts now divided between limited easing and no rate cuts in 2026.

Investors are also focused on Tuesday’s US consumer inflation data, which could shape expectations for the Fed’s next policy steps.

Markets are also monitoring Trump’s upcoming visit to China, where he is expected to meet Chinese President Xi Jinping for talks on Iran, Taiwan, artificial intelligence and nuclear weapons.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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