Silver rallies toward $78 as markets cheer possible US-Iran truce
WTI slides back toward 91, while silver surges above 76 as easing US–Iran tensions once again shift market sentiment, bringing key technical levels and the potential reopening timeline of the Strait of Hormuz into focus.
Silver price today: Silver rises, according to FXStreet data
Silver Price Forecasts: XAG/USD rallies past $76.00 amid US Dollar weakness
Gold and silver rebounded as U.S. dollar weakness, softer oil prices, and improving hopes of U.S.-Iran peace supported precious metals.
Silver Price Forecast: XAG/USD rises above $75.00 as Middle East tensions ease
On April 16, the Chairman of the US Commodity Futures Trading Commission publicly endorsed legislation that would break up the geographic concentration of silver depositories approved for COMEX delivery.
Silver continues to consolidate at the moment, as the interest rate market continues to see a lot of movement, causing a bit of chaos. Silver continues to be a tough place to make money at the moment.
Silver prices bounce after selloff, but strong dollar, rising yields, and oil-driven inflation keep pressure on the silver market outlook and price prediction.
Silver price today: Silver rises, according to FXStreet data
Silver Price Forecast: XAG/USD slumps below $73.00 under 100-day EMA as downside pressure persists
Although this is the third week of the ceasefire, many now doubt it will hold. In the last 24 hours, Iran reportedly attacked several merchant ships and tankers in the Strait of Hormuz; The conflict has also widened, with direct attacks on the United Arab Emirates and major incidents in Abu Dhabi and Dubai.