Silver price rises despite easing US-Iran tensions: Can it break $60.12?

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Silver jumps 2.25% today to $59.5

Highlights

US-Iran peace talks are calming geopolitical risks, reducing safe haven demand and shaping investor sentiment for silver.
Ongoing negotiations are closely watched by markets, with further progress likely to affect near-term appetite for silver.
Silver trades with strong short-term momentum near $59.5, expected in a $58.8 to $60.12 range as overbought signals temper further upside.

Haven demand fluctuates as US-Iran talks ease geopolitical tensions

Renewed US-Iran peace talks, as reported by Fxstreet, have influenced the appetite for haven assets such as silver by easing near-term geopolitical tensions. This diplomatic progress tends to shift investor flows toward non-yielding metals in periods of uncertainty, which can support heightened demand for XAG. Market participants are watching the ongoing negotiations closely, as any further developments could continue to shape sentiment surrounding silver in the immediate sessions.

Bullish signals clash with overbought risk as technical barriers persist

On the hourly chart, XAG has cleared both the MA-20 and MA-50, but remains well below the MA-200 on the daily timeframe, highlighting a short- to medium-term bullish setup amid a long-term bearish backdrop. The Ichimoku Kijun on the daily provides immediate support at $57.9. Momentum indicators are mixed: MACD is currently in Buy mode and ADX is Neutral, while both RSI and CCI remain in Buy zones. However, Stochastic RSI and Bull/Bear Power signal overbought intraday conditions, indicating that buyer dominance could face short-term exhaustion.

Upside favored in tight range as breakout scenarios emerge

In the near term, XAG is expected to trade within the $58.8 to $60.12 range. The probability of further upside is very high under current conditions, with only a low probability for downside reversal. The baseline scenario anticipates consolidation within this band, with a bullish extension possible on a break above $60.12. A move below $58.8 would expose XAG to lower support levels and may trigger renewed selling interest.

Anton Kharitonov, expert at Traders Union, sees silver supported by eased geopolitical tensions from renewed US-Iran peace talks. He notes that technical indicators show short- to medium-term strength but warns the long-term structure remains bearish. Momentum is positive, yet some signs of overbought conditions suggest upside could be limited. "Until silver breaks decisively above $60.12, I remain cautious and view rallies as vulnerable to reversal."

Earlier, analysts noted that silver was likely to remain under pressure amid subdued safe-haven demand and a mixed technical outlook. The current analysis adds that with overbought signals persisting and negotiations ongoing, traders should monitor the $60.12 resistance as a key inflection point for potential breakout or retracement in the near term.

Source of Data: XAG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.