XAG/USD climbs near $70.50 as easing geopolitical tensions and Fed policy expectations boost demand for the non-yielding metal.
Silver prices (XAG/USD) rose for a fifth straight session, trading at $70.40 per troy ounce in Asian hours. The rally follows expectations of a US-Iran peace deal, set to restore Iranian oil exports and ease energy-driven inflation concerns.
Investors are also focused on the Federal Reserve’s policy meeting, where the central bank is expected to hold rates steady at 3.50%-3.75%. Markets await signals from new Fed Chair Kevin Warsh on future monetary policy direction.
Diplomatic progress accelerated ahead of Friday’s signing, with US and Iranian officials confirming ongoing negotiations for a broader agreement.