Silver Surges as Strait of Hormuz Tensions Drive Safe-Haven Demand

Silver prices continue to rise, reaching $66.63 after gaining 2.19% on the day.

This increase is attributed to growing geopolitical tensions near the Strait of Hormuz, which are driving demand for safe-haven assets like Silver.

The current price is above its key moving averages, indicating positive short- and medium-term momentum relative to recent trends.

Market expectations for US rate hikes have also been renewed due to higher oil prices, further fueling interest in metals as inflation hedges.