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Silver Price Forecast: XAG/USD holds gains near $78.50 on US-Iran deal optimism
Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday. Non-yielding assets, including Silver, are receiving support from increasing optimism over a potential US-Iran agreement, which has eased broader market concerns about inflation and impending interest rate hikes. According to a report by Axios citing a US official, the United States (US) and Iran are close to signing an agreement that involves a 60-day ceasefire extension. Under this proposed deal, the Strait of Hormuz would be reopened, and Iran would agree to ... (full story)