Silver prices surged over 4% as geopolitical tensions eased following the cancellation of US military action against Iran.
Silver prices climbed more than 4% after US President Donald Trump called off planned strikes on Iran, easing immediate geopolitical risks. XAG/USD recovered from a daily low of $61.51 to trade near $61.50 at publication time.
The rally follows a sharp sell-off earlier in the session, driven by escalating tensions in the Middle East. Prior to the announcement, silver had faced downward pressure amid broader market uncertainty.
The move reflects investor relief over avoided conflict, though analysts caution the metal remains in a bearish trend longer-term.