Silver edges higher, holds above $69

August 24, 2026 (MLN): Silver prices held above $69 an ounce on Monday, remaining close to a two-month high as renewed concerns over U.S. debt management and fiscal sustainability strengthened demand for precious metals.

Currently, spot silver is up 0.25% to $69.112 an ounce as of [11:58 am] PST, according to data reported by Mettis Global.

The rally followed an unexpected increase in the U.S. Treasury’s buybacks of longer-dated government debt, which pushed Treasury yields and the dollar lower.

The move revived the so-called debasement trade, supporting investor interest in silver and other precious metals, according to Trading View.

U.S Treasury Secretary Scott Bessent has indicated that the government could expand its buyback programme, while the administration is also preparing measures aimed at bringing down borrowing costs, which remain near multi-year highs.

The weaker dollar has provided additional support for silver, making the metal more attractive to international buyers.

However, elevated oil prices could limit further gains by keeping inflationary pressures high and reducing expectations for near-term interest-rate cuts.

Markets are also awaiting the U.S. announcement on additional sanctions against Iran, adding another layer of uncertainty for commodity markets.

Silver has advanced around 18% so far this month, extending its strong monthly performance.

In parallel, gold prices rose to their highest level in more than three months on Monday, supported by a weaker U.S. dollar as investors turned their attention to upcoming U.S. inflation data and a speech by Federal Reserve Chair Kevin Warsh later this week.

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