Silver prices remained stable at $36 per ounce on Tuesday, maintaining this level for the third consecutive session. This stability comes as geopolitical tensions in the Middle East have shown signs of easing, reducing the recent volatility in the market. The stabilization followed an announcement by US President Donald Trump confirming a ceasefire between Israel and Iran, which came after Iranian state media reported that Tehran had fired its "last round" of missiles at Israel. Importantly, Iran refrained from targeting the Strait of Hormuz, alleviating concerns about potential disruptions to global energy and trade routes.
Last week, silver prices surged to their highest levels in over 13 years, driven by a strong demand for safe-haven assets as an alternative to gold, alongside indications of robust industrial demand and constrained supply conditions. However, the upward momentum has waned, with recent price declines attributed to profit-taking and liquidity-driven selling as investors repositioned to offset losses in other asset sectors.
