Silver rose about 5% to around $82 per ounce on Monday, following a 10% jump in the previous session, as traders continued to buy the precious metal after a historic selloff that erased nearly half of its value. Investors also responded to the landslide victory of Prime Minister Sanae Takaichi’s ruling coalition in Japan’s weekend elections, which paves the way for her expansionary fiscal policies. Meanwhile, the US and Iran held talks in Oman on Friday in an effort to ease tensions, though Tehran maintained its refusal to halt nuclear fuel enrichment. Investors are also awaiting key US jobs and inflation reports this week for guidance on Federal Reserve policy. US Treasury Secretary Scott Bessent attributed last week’s extreme swings in precious metals to Chinese traders, describing the recent top as a speculative blowoff.
