Silver Defies Volatility with $58.49 Close Amid Geopolitical Tensions and Dollar Strength

The silver market showed resilience despite a volatile week, closing at $58.49 per ounce on Friday, a 0.99% daily gain that capped a 4.04% weekly advance.

This development unfolded against the backdrop of escalating tensions in the Middle East, which have reshaped the commodity landscape.

The US paused its military operations against Iran as diplomatic channels remained open, while the Saudi-led coalition struck Houthi rebel targets on Friday following attacks on Saudi oil facilities and disruptions to Red Sea shipping.

This geopolitical cocktail has fueled safe-haven demand for precious metals, with gold rising 1.31% over the week due to the same tensions.