Silver Futures Jump to Highest Open Since March as Gold Holds Near $4,700

Silver futures rose sharply on May 13, 2026, as industrial-demand expectations outweighed a muted move in gold following the latest U.S. inflation data. July silver (SI=F) opened at $87.32 an ounce, up 2% from Tuesday’s $85.59 close, its highest opening price since March 11. By 6:47 a.m. ET, silver traded at $87.70. June gold futures (GC=F) opened at $4,722.30, up 0.8% from Tuesday’s $4,686.70 close, after falling 1.2% in the prior session. Gold was at $4,711.70 as of 6:47 a.m. ET. Gold remained constrained as some investors priced in one Federal Reserve rate cut later in 2026 despite elevated inflation. Higher rates typically weigh on gold because it pays no interest. Silver’s rally was tied to manufacturing demand, with market commentary pointing to artificial intelligence-related infrastructure spending as a growing driver, alongside expectations for China-linked demand.