Silver prices extend gains for a second day as diplomatic progress between Washington and Tehran fuels risk appetite.
Silver prices rose to $77.90 per troy ounce, marking a second consecutive day of gains amid optimism over a potential US-Iran agreement. The advance reflects broader market sentiment as geopolitical tensions ease, reducing safe-haven demand for the metal.
Prior to the rally, XAG/USD traded near $77.50, with the recent uptick aligning with a rebound in industrial metals. The move follows weeks of volatility driven by Middle East uncertainty and shifting expectations for Federal Reserve policy.
No immediate market reaction data was provided, though silver’s correlation with gold and risk assets suggests continued sensitivity to diplomatic developments.