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Silver prices (XAG/USD) are under downward pressure on Thursday, driven by macroeconomic headwinds linked to the escalating US-Israel-Iran conflict. The geopolitical tensions have dampened risk appetite, pushing investors toward safe-haven assets like gold while silver struggles near $75. Technical indicators show bearish momentum, with key support levels at $73.50 and $72.50 acting as critical barriers for further declines.
The bearish bias reflects broader market uncertainty, as conflicts in the Middle East often disrupt energy markets and create volatility in commodity prices. Traders are closely monitoring whether the $75 psychological level will hold or collapse, which could trigger a deeper correction. The US Dollar Index (DXY) also plays a role, as a stronger dollar makes silver more expensive for non-US buyers.
For investors, the focus remains on the conflict's duration and potential spillover effects on global supply chains. If the war escalates, silver could face renewed selling pressure. Conversely, a de-escalation might attract buyers. Key levels to watch include $73.50 and $72.50, with a break below $70 signaling a more aggressive bearish phase.
