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Silver (XAG/USD) is showing a mild bearish momentum on Tuesday’s European trading session, with the reversal from Thursday's high, at 81.13, extending to levels below $72.00, amid vanishing hopes of a peace deal in Iran. The US Dollar remains steady as the ultimatum on Iran to reopen the Strait of Hormuz expires in a few hours.
The US and Iran rejected the peace plan submitted by Pakistan on Monday, while Iran's alternative proposal was considered “significant” but not enough by US President Donald Trump. The deadline for Iran to reopen the critical waterway expires on Tuesday at 8:00 PM Eastern Time, and Trump has threatened to “demolish” the country in one night unless a last-minute breakthrough is reached.
XAG/USD shows a mildly bearish near-term bias after failing to sustain recent highs. The 4-hour Relative Strength Index (RSI) has pulled back below the 50 line, suggesting fading upside pressure. The Moving Average Convergence Divergence (MACD) indicator holds in negative territory with a slightly negative histogram, reinforcing waning bullish momentum.
On the downside, the daily low, at the $68.30 area, might provide support ahead of the March 26 low, near $66.70. Further down, the 2026 low, at the $61.400 area, will come into the bears' focus.
To the upside, the 38.6% Fibonacci retracement of the late March sell-off, at the $75.00 area, keeps holding bulls. Further up, the pair might find sellers at the area between the March 17 high, at the $82.55 area, and the 61.8% Fibonacci retracement of the aforementioned cycle, at $83.35.
(This story was corrected on April 7 at 12:20 GMT to say Silver extends reversal from Thursday's highs above $81.00, not Monday's highs, and also to mention that the daily low at the $68.30 area, and not Monday's low, might provide support.)
(The technical analysis of this story was written with the help of an AI tool.)
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
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Silver (XAG/USD) is showing a mild bearish momentum on Tuesday’s European trading session, with the reversal from Thursday's high, at 81.13, extending to levels below $72.00, amid vanishing hopes of a peace deal in Iran.
英镑（GBP）兑美元（USD）在周二欧洲交易时段放弃早盘涨幅，盘整于1.3240附近。随着伊朗拒绝美国提出的临时停火，市场情绪转向风险厌恶，英镑/美元回落。
The Pound Sterling (GBP) surrenders its early gains against the US Dollar (USD) and flattens around 1.3240 during the European trading session on Tuesday.
据Axios周二援引一位未具名的美国高级官员报道，美国军方对位于伊朗卡尔格岛的军事目标进行了打击。
荷兰国际集团（ING）分析师Ewa Manthey和Warren Patterson报告称，在伊朗对阿联酋环球铝业（Emirates Global Aluminium）Al Taweelah炼铝厂和巴林铝业（Aluminium Bahrain）工厂发动袭击后，铝供应风险加剧。
Citing an unidentified senior US official, Axios reported on Tuesday that the US military conducted strikes on military targets located on Iran's Kharg Island.
ING analysts Ewa Manthey and Warren Patterson report that Aluminium supply risks have intensified after Iranian attacks on Emirates Global Aluminium’s Al Taweelah smelter and Aluminium Bahrain’s plant.
德国商业银行的分析师指出，由于伊朗冲突持续以及特朗普将任何停火协议与霍尔木兹海峡的自由石油运输联系在一起，布伦特原油价格已攀升至每桶111美元以上。国际能源署警告在伊朗战争期间囤积燃料，而欧佩克+同意5月份小幅增加配额，并对能源基础设施遭到攻击表示担忧。
道明证券（TD Securities）分析师强调，墨尔本研究所通胀指标创下月度涨幅纪录，使整体和修剪平均通胀率达到自 2008 年以来非新冠疫情期间的最高水平。与此同时，澳大利亚家庭支出增长温和，动能正在放缓。