Silver Rallies Sharply After Trump Delays Attack
Silver prices rose sharply in European trading on Wednesday (April 8), holding above the US$76/oz area and hovering around US$77/oz, as the dollar weakened after US President Donald Trump postponed planned attacks on Iranian civilian infrastructure for two weeks to allow time for finalizing negotiations.
Trump said Washington had accepted a 10-point proposal from Iran that he considered a basis for negotiations. Iran also expressed its willingness to reopen the Strait of Hormuz for a two-week period, provided that the ceasefire and shipping ceased in coordination with Iranian military authorities; Israel reportedly agreed to the temporary pause.
Despite the easing of tensions, silver still reflects the legacy of energy shocks and changing interest rate expectations since the outbreak of the conflict, which had pressured the non-yielding metal. The market's next focus will be the consistency of the ceasefire implementation and the smooth flow of Hormuz, as rapid changes in geopolitical risks and energy prices remain key drivers of precious metal volatility.
Source: Newsmaker.id