Silver Slumps on Diplomatic Impasse, Rising Yields
Silver's price took a hit on Tuesday, plummeting to $63.48 per troy ounce, an 18 August drop of 3.49% from the prior session.
The metal is caught in a tug-of-war between short-term macro pressure and long-term demand that keeps shifting the floor beneath it.
A diplomatic impasse is at the heart of the sell-off, with a 60-day agreement between Washington and Tehran expiring on Monday without a successor arrangement in place.
This lapse fed through to energy markets, with oil prices firming and US Treasury yields climbing to multi-year highs on concerns over heavy government borrowing and lingering inflation pressures.
J.P. Morgan Global Research has delivered a notable reassessment of silver's medium-term prospects, cutting its forecast from $84 per ounce in 2026 to an average of $70.