I agree that the metal is named after the planet (that is in turn named after the god).
In the Middle Ages and Rennaissance, the metals were tightly connected to planets. The astrological glyphs for the planets were routinely used as glyphs/names of the metals. (By astrologers, alchemists, and early chemists.)
But then there were the commonplace English names for metals, too, that we use today (iron, copper, etc). The common name for mercury was "quicksilver," but maybe "mercury" became the standard name to save confusion with silver?