**BREAKING: Silver Plunges Below $58 on Renewed US-Iran Tensions**
Silver prices dropped 1.33% to near $58.00 per ounce during European trading hours Thursday as escalating geopolitical tensions between the United States and Iran triggered fresh inflation concerns. The white metal faced immediate selling pressure as energy prices surged following renewed aggression between the two nations, forcing traders to reassess inflation trajectories that had previously shown signs of stabilization.
The spike in crude oil and energy costs is now de-anchoring inflation expectations, creating uncertainty around central bank policy paths and dampening appetite for non-yielding precious metals like silver. Traders are repositioning portfolios as the conflict threatens to sustain elevated commodity prices longer than previously anticipated. Industrial demand concerns are also weighing on silver, which serves both as a safe haven and manufacturing input.
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FXnCO Insight
** Traders should monitor energy market movements closely, as sustained oil price increases above key resistance levels could push silver toward the $56 support zone while strengthening the dollar’s appeal over precious metals.
Source: FXStreet