ISTANBUL — Silver prices resumed their upward trend on Wednesday, supported by a weaker U.S. dollar and escalating geopolitical tensions in the Middle East.
Spot silver was trading near $66 per ounce in international markets, while the price of gram silver in Türkiye approached the 103 Turkish lira threshold.
Silver’s recovery has broadly followed the performance of gold as investors continue to seek safe-haven assets amid rising geopolitical risks. The latest move comes as tensions in the Middle East intensify, with retaliatory actions continuing between the United States and Iran and Yemen’s Houthis targeting cities in Saudi Arabia.
Markets Await U.S. Inflation Data
Investors are also focused on upcoming U.S. inflation data, which is expected to provide important clues about the Federal Reserve’s monetary policy outlook.
A weaker dollar has provided additional support for precious metals, making dollar-denominated commodities more attractive to holders of other currencies.
As of September 9, silver was trading around $66.31 per ounce, while domestic gram silver prices were close to 103 lira, according to market data cited by Patronlar Dünyası.
The combination of geopolitical uncertainty, safe-haven demand and expectations surrounding U.S. monetary policy continues to shape the outlook for silver and other precious metals.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök