Silver fell below $72 per ounce on Monday, extending losses from the previous session after President Donald Trump issued a new ultimatum to Iran. He warned of strikes on the country’s power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Trump vowed to bring “Hell” to Iran, set a fresh deadline for Tuesday at 8 p.m. Eastern Time, and signaled plans to hold a news conference at 1 p.m. on Monday.
Tehran has rejected the latest ultimatum and continues to launch attacks on energy infrastructure across the Middle East. Since the conflict began, silver has dropped more than 20%, as surging energy prices have intensified inflation fears and reinforced expectations of interest rate hikes. The metal has also failed to fully play its traditional safe-haven role, weighed down by forced liquidations as investors sell holdings to cover losses in other markets.
