Silver advances to $66.35 on US-Iran peace deal hopes
Silver (XAG/USD) rose to around $66.35 during early European trade on Monday, supported by progress in US-Iran peace talks that eased Middle East tensions.
XAGUSD
Silver prices extended gains to $66.35 during early European hours on Monday, buoyed by positive developments in US-Iran peace negotiations. The diplomatic progress has reduced geopolitical risk in the Middle East, prompting safe-haven buying in precious metals.
Despite the intraday advance, XAG/USD remains below a key resistance level within its broader downtrend. Technical resistance overhead may limit further upside unless the upward momentum is sustained.
The metal's near-term direction hinges on continued peace talks and broader market risk sentiment.
Source: FXStreet Forex News