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Silver slips as US-Iran deal hopes lift risk appetite
XAG/USD was last around $57.40, down 1.7% on the day, with focus shifting to the Fed decision Wednesday.
Silver (XAG/USD) traded near $57.40 on Tuesday, falling 1.7% as investors trimmed safe-haven exposure and risk appetite improved. FXStreet links the move to a weaker US dollar and improving market sentiment after US President Donald Trump said the United States is having “good talks” with Iran. Trump also said he wants to avoid targeting critical infrastructure such as power plants and bridges, while warning that Iran can no longer break agreements. The potential for de-escalation has also weighed on oil and eased worries about renewed inflation, but risks have not disappeared. Trump warned that US military strikes could resume if negotiations fail, and separate security incidents reported in Saudi Arabia, Jordan, and Iraq underscore that regional tensions remain elevated. Investors are also processing US data released Tuesday, including a drop in the Conference Board Consumer Confidence Index to 90.8 in July from 92.2 previously. The four-week average of ADP’s NER Pulse private-sector job creation slowed to 15K jobs per week in mid-July, and attention turns next to the Federal Reserve policy decision on Wednesday for signals on future monetary policy.
Latest closeSilver $58.70 ▲0.1%