Silver price rose by 2.5% to reach $50.33 per ounce on Monday after oil prices fell. This drop in oil costs eased inflation worries, helping precious metals recover. Investors are now watching the US midterms on November 3 and fed comments to see how they will impact future interest rates.
Synopsis
Silver price has increased by 2.5% on Monday to $50.33 per ounce after oil prices fell. Gold price also rose by 0.8% today after falling to a one year low in the last session. The investors are also closely watching the US midterm elections, fed reserve officials comments and jobs data to see how they will have an impact on interest rates, inflation and precious metals.
Silver price has soared by 2.5% on Monday to $50.33 per ounce as oil prices declined and investors assessed developments in the Middle East. Platinum price has not changed and is currently at $1,431.50 per ounce. Palladium rose by 0.9% to $986. Gold prices also recovered after falling below the $4,000 last time. The oil prices have dropped. This development has reduced the concerns about the inflation and the chances of interest rates staying higher for a longer time. Investors are now looking at how the US midterms on November 3, fed comments and jobs data will impact precious metals.
Why has silver price risen today?
Silver rose by 2.5% to $50.33 per ounce today after oil prices fell. Platinum price did not change. The precious metal is still at $1,431.50 per ounce. Palladium rose by 0.9% to $986 per ounce. Gold rose by 0.8% to $3,903.90 per ounce by 0757 GMT. December gold futures in the US rose by 0.4% to $3,913.20.
Why are oil prices down today?
Oil prices fell over 3% after Iranian negotiators met Qatari mediators in Doha for the third day in a row on Sunday. This is to try and come to an agreement to end the US-Israeli war on Iran.
US Secretary of State Marco Rubio said that the US had not made any decisions to start bombing Tehran again. However, President Donald Trump wants to resolve the issues diplomatically but the US still has its military capabilities.
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WTI crude oil fell around 2% to around $100 after correcting from its five-month high of $104. The inflation hike concerns have reduced after the fall in oil prices. The central banks are also not likely to keep interest rates higher for longer.
Why did gold drop below $4,000?
Gold fell 3.5% on Friday to its lowest level since October 2025 after technology stocks fell. This led to margin calls on the stock market forcing investors to sell assets. "The gold price is rebounding after the selloff. Lower oil prices are also helping precious metals," Kyle Rodda, senior financial market analyst, Capital.com told Reuters.
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