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fxJul 8, 2026, 2:12 PM

Silver Falls as Trump Iran Threats Boost Dollar Ahead of Fed Minutes

Silver (XAG/USD) extended its decline on Wednesday, trading around $58.45, pressured by US President Trump's renewed threats against Iran, which strengthened the US Dollar ahead of the Federal Reserve minutes release.

XAGUSD

Silver (XAG/USD) continued its downward move on Wednesday, hovering near $58.45. The precious metal came under pressure after US President Donald Trump made new threats regarding Iran, reigniting concerns over Middle East tensions. This geopolitical uncertainty boosted demand for the US Dollar, weighing on dollar-denominated silver. Investors are now awaiting the release of the Federal Reserve's meeting minutes, which could provide further direction for the dollar and metals.

Source: FXStreet Forex News