Silver Remains Volatile, Hormuz and Inflation Maintain Market Pressure
Silver prices held above $78 per ounce on Thursday (April 23), but movements remained volatile amid geopolitical uncertainty in the Middle East and the Strait of Hormuz standoff. Disruptions in energy routes have kept energy prices high and maintained inflation risks, leaving sentiment in the precious metals market fragile.
Tehran is said to maintain control of shipping lanes by restricting almost all international traffic, and there were reports of shelling of commercial vessels this week. Meanwhile, the US is maintaining a blockade of Iranian ports to increase pressure, a move Iran has condemned as a violation of the ceasefire, while President Donald Trump has said the ceasefire will remain in effect indefinitely pending a new peace proposal.
Fundamentally, silver has been under pressure since the conflict began as rising energy prices fuel inflation concerns and increase the likelihood of central banks holding interest rates longer or raising them. This pressure on non-yielding assets and prolonging volatility, with silver reportedly down about 17% since the war began. (Asd)
Source: Newsmaker.id
