The Price of Silver Is Falling Again: Why Safe-Haven Assets Are Down as the Middle East Crisis Escalates

Precious metals, especially gold, rose on Monday following news of the attack on Iran, but they’re seeing a reversal today. Here’s the latest.

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In a year of tremendous uncertainty, one of the few constants has been the swift uptick in gold and silver prices. 

Both metals have reached record high after record high as investors turn to safe-haven assets. Yet, as war escalates across the Middle East, the prices of silver and gold are currently falling.

Most notably, silver fell over 11% on Tuesday and is down over 7 percent to about $82.50 per ounce at the time of publication.

That’s more than a 5 percent drop over the last five days and close to 3 percent down for the past month. Silver’s all-time high price came on January 29, with a whopping $129.64 per ounce. 

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Even with the significant drop from that peak, silver is still over 161 percent up year-over-year (YOY) and more than 16 percent up for 2026. 

Meanwhile, gold is down over 3 percent on Tuesday to about $5,145 per ounce at the time of publication. Its record-high of $5,594.82 coincided with silver’s best price. 

Why are silver and gold prices dropping? 

Both metals, especially gold, rose on Monday following the weekend’s attacks in the Middle East. But factors such as a stronger U.S. dollar and the potential for rising interest rates have dampened the appeal of non-yielding assets, like silver.

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