New York, March 1, 2026, 12:04 EST — Market closed
- Silver jumped in the previous session, with investors rotating into haven assets.
- Fresh hostilities in the Middle East and a spike in oil could shape the early mood Monday.
- Focus shifts to U.S. data this week, with Friday’s jobs report topping the agenda for traders.
Silver kicks off the week with geopolitics taking the forefront, following a strong rally in the previous session and fresh tensions erupting in the Middle East over the weekend.
Silver’s run is drawing attention, landing right where rates and risk appetite intersect. When oil spikes, inflation jitters aren’t far behind—that kind of move can jolt U.S. yields and the dollar, both of which have an outsize influence on what traders are willing to shell out for metals that don’t pay interest.
Silver’s got a dual character. On rough days, it acts like a safe-haven, but it’s just as much an industrial metal, moving with manufacturing demand and global growth trends.
Spot silver surged 6.1% to $93.74 an ounce on Friday, lifted as the dollar slipped and U.S. Treasury yields declined.
Reuters reported that Israel hit Tehran with another round of strikes over the weekend. U.S. and Israeli attacks, along with Iran’s response, sent waves through energy, air travel, and shipping markets.
Metals traders have eyes on oil’s moves right now. Brent crude surged close to 10%, landing near $80 a barrel in over-the-counter markets. Analysts say if turmoil near the Strait of Hormuz drags on, prices might shoot up to $100.
Edward Meir at Marex figures “you’re going to see a knee jerk spike up in most commodity markets, including gold and oil,” according to comments he gave Reuters on the strikes. Investing
Ole Hansen, who leads commodity strategy at Saxo Bank, said the escalation is likely to drive investors into energy and precious metals. He added that seeing gold notch a new record high wouldn’t surprise him—something silver traders tend to read as a bullish sign.
Silver’s rally isn’t straightforward. A quick drop in tensions, or the dollar regaining strength on pricier oil and inflation plays, might put a lid on further gains. That’s a risk City Index and FOREX.com’s Fawad Razaqzada pointed out in a Reuters piece.
Silver-focused miners surged heading into the weekend, mirroring the metal’s rally late in the week. Traders cautioned, though, that with low liquidity on the reopen, price moves could easily become outsized.
COMEX silver futures will resume electronic trading in New York later Sunday evening.
The calendar’s packed beyond Middle East news. U.S. factory data drops Monday, with the Federal Reserve’s Beige Book lined up for Wednesday.
Friday’s the one to watch: the U.S. Labor Department drops its February jobs data, a report known for jolting rate forecasts and shaking up both the dollar and gold markets in just minutes.
