Spot silver climbed above $62/oz for the first time since July 7, rising 4.19% intraday.

On Aug 5 in Las Vegas, US President Trump said recent oil-price declines have stabilized and "we may have to let it rise again," adding he hopes "it won't come to that." He did not elaborate. AP noted that despite Trump's repeated assurances the conflict with Iran is nearing an end, oil prices typically rise if fighting resumes.

The Wall Street Journal, citing people familiar with the matter, says President Trump has phoned Fed chair Wosh repeatedly since Wosh took office, breaking customary patterns of presidential contact with central bank chiefs. Call frequency varied from multiple calls in a few days to long gaps. Trump sought Wosh's views on issues including a potential Iran war and the economic impact of rapid AI development. Insiders say it is unclear whether monetary policy was discussed; one person insisted the president never raised interest rates. Wosh reportedly expressed private economic optimism consistent with his public remarks. Trump has told allies he views Wosh as an important external economic adviser. The relationship could prompt concerns about Federal Reserve independence.