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macroJun 15, 2026, 6:52 PM

Silver reclaims 200-day SMA, up over 3% on US-Iran tensions

Silver (XAG/USD) surged more than 3%, reclaiming the 200-day Simple Moving Average (SMA) at $68.59, as geopolitical tensions between the US and Iran drive safe-haven demand. A double-bottom chart pattern also signals potential further upside.

XAGUSD

Silver prices posted a gain of over 3%, with the white metal climbing back above its 200-day Simple Moving Average (SMA) of $68.59. The rally is attributed to escalating geopolitical risks involving the United States and Iran, which boosted safe-haven demand for precious metals.

A double-bottom pattern has formed on the daily chart, a technical structure often interpreted as a bullish reversal signal. Traders are watching whether XAG/USD can sustain above the 200-day SMA to confirm the breakout.

No further details on the US-Iran situation were provided in the source, but the market appears to be pricing in heightened uncertainty. The move marks a significant recovery for silver after recent weakness.

Source: FXStreet Forex News