XAG/USD climbs as oil prices retreat, offsetting lingering US-Iran geopolitical risks during European trading.
Silver prices rose 1.85% to near $76.30 in European trading on Tuesday, recovering from recent losses. The gain follows a pullback in oil prices, which reduced inflation concerns and supported demand for the white metal as a hedge.
Prior to the rebound, XAG/USD had faced pressure from persistent uncertainty over US-Iran relations, which had bolstered safe-haven assets like gold. The latest move aligns with a broader correction in commodities markets.
No immediate market reaction was reported beyond the price movement.