Silver jumped more than 4% to over $83 per ounce on Monday, hitting fresh record highs as bets on US interest rate cuts and geopolitical tensions bolstered demand for safe-haven metals. Investors closely monitored nationwide protests in Iran, now entering their third week and reportedly resulting in hundreds of deaths. US President Donald Trump has warned Iran’s leadership against using force on demonstrators and has signaled that Washington could take action if Tehran violently suppresses protests, while Iranian officials have responded by cautioning against any US or Israeli intervention. Markets also weighed prospects for additional US Federal Reserve rate cuts after Friday’s monthly jobs report showed job growth was below forecasts last month. Traders continue to bet on two Fed rate cuts this year, although the central bank is widely expected to hold policy steady later this month.
