FX.co ★ Silver Rises to $74.5 on Middle East Tensions

Silver rose to $74.50 per ounce on Thursday, driven by mounting investor anxiety over the fragile US–Iran ceasefire and the intensifying conflict in the Middle East. A weaker US dollar further supported the rally as traders weighed the likelihood that the truce would endure. With core disputes still unresolved and the Strait of Hormuz remaining closed, tensions escalated after US President Donald Trump warned of a major escalation should Iran reject the proposed agreement. At the same time, Israel’s deadliest strike in Lebanon, which killed more than 250 people, prompted Tehran to threaten retaliation. Despite the latest rebound, silver has fallen nearly 20% since the war began on February 28, as surging oil prices and fears of energy-driven inflation have dampened expectations for US interest rate cuts in 2026.