Silver rose by over 1% to $73 per ounce on Tuesday, following an 8% slump in the previous session, which marked the steepest daily drop in over five years, as traders booked profits.
Markets continued to monitor geopolitical developments, with uncertainty persisting as tensions in the Russia-Ukraine conflict lingered after reports of a suspected Ukrainian drone incident near President Putin's residence, while negotiations between the two sides continue amid unresolved issues.
Separately, the United States signaled possible further strikes on Iran if nuclear and missile programs advance, and announced an operation against a drug-related facility in Venezuela.
Despite near-term volatility, silver remains on track for a roughly 158% gain, one of its best annual performances since 1979, supported by strong industrial demand, lingering supply constraints, persistent ETF inflows, central bank buying, and three US rate cuts, with markets factoring in expectations of further easing in 2026.
Source: Trading Economi
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