There has been a significant shift in silver prices since the early days of the Iran conflict, which drove massive volatility in the white metal. As of today, the narrative has shifted from the war risk towards the newly announced US-Iran truce. The truce announcement has sharply reduced the prevailing market fears of a more prolonged disruption in energy supply. Oil prices have fallen below $80 and now trade around $70 a barrel, after Iran promised to reopen the key Strait of Hormuz shipping route. The situation has reduced safe-haven demand for the US dollar and brought on risk-on sentiment to financial markets, ... (full story)