XAG/USD recovers from a two-and-a-half-month low as US-Iran talks ease market concerns, lifting prices above $64.00.
Silver prices climbed to $64.50 on Thursday, recovering from a session low of $61.50, marking a two-and-a-half-month nadir. The rebound followed reports of ongoing negotiations between the US and Iran, which alleviated some market pressure on the commodity.
Earlier in the session, XAG/USD had slumped to its lowest level since late April, reflecting broader bearish sentiment. The metal’s recovery, though modest, contrasts with its recent downward trend amid geopolitical and macroeconomic uncertainties.
The price movement suggests temporary relief rather than a shift in market control, as bears remain dominant in the near term.