The six-week blockade of the Strait of Hormuz has pushed silver past $100 per ounce, and Polymarket odds for silver hitting $200 by June 30 now sit at 22%.
Market reaction
The blockade sent energy prices soaring and pushed gold over $5,000 per ounce. Silver has climbed past $100 as traders hedge against uncertainty. The Silver Price Predictions for June market is being closely watched, with participants pricing in further moves as the conflict continues to disrupt supply chains. That said, the market has seen negligible USDC volume in the last 24 hours, and face value volume remains at zero, pointing to a wait-and-see posture from most traders. Any substantial moves are likely to come from strategic bets rather than organic activity.
Why it matters
The blockade’s effects extend beyond energy and metals. Rare earth and food supply chains are also disrupted, compounded by ongoing US-China tensions. Correlations between energy and precious metals have increased, and insurance and transport costs are up 15-30%. If the blockade persists, silver could reach new highs as these cost pressures compound.
What to watch
Signs of easing tensions or further escalation in the Middle East will drive the next move. Statements from CME Group or analysts like Marko Kolanovic could shift sentiment. Developments in US-China relations or changes in energy supply routes would also affect silver’s trajectory.
At 22¢, a YES share pays $1 if silver hits $200 by June, a roughly 4.5x return for those betting on continued escalation.
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