Silver prices hovered around $36 per ounce on Monday, holding steady after a two-day decline as markets absorbed a sharp escalation in Middle East tensions. The US launched airstrikes on three Iranian nuclear sites over the weekend, joining Israel in its ongoing conflict with Iran and raising concerns over potential retaliation from Tehran. The US dollar strengthened on increased safe-haven demand, adding pressure to both silver and gold prices. Last week, silver had rallied to over 13-year highs, buoyed by safe-haven flows—particularly as an alternative to gold - alongside signs of strong industrial demand and tight supply conditions. However, the rally has since lost momentum, with recent declines driven by profit-taking and liquidity pressures as investors moved to cover losses in other asset classes.