Silver prices held steady at $36 per ounce on Tuesday, hovering around that level for the third straight session as easing geopolitical tensions in the Middle East tempered recent volatility. The market responded to news that US President Donald Trump had confirmed a ceasefire between Israel and Iran, following reports from Iranian state media that Tehran had launched its “last round” of missiles at Israel.
Crucially, Iran avoided striking the Strait of Hormuz, easing fears of broader disruptions to global energy and trade routes. Last week, silver surged to over 13-year highs, fueled by safe-haven demand—particularly as an alternative to gold—alongside signs of strong industrial demand and tight supply conditions. However, the rally has since lost steam, with recent price softness attributed to profit-taking and liquidity-driven selling, as investors moved to cover losses in other asset classes.
