Silver traded above 88 per ounce after advancing for three consecutive sessions. Demand for safe-haven assets intensified as the US-Israeli campaign against Iran reached its 12th day. The Pentagon has indicated that the current strikes represent the most intense phase of operations to date, with efforts poised to persist. Oil prices have been constrained following the IEA’s proposal for the most significant release of oil reserves ever recorded.

Significant reductions in output have been observed among major Middle East producers, coinciding with the effective closure of the Strait of Hormuz. Silver maintained its position above $88 per ounce on Wednesday, marking a third consecutive session of gains as geopolitical tensions in the Middle East heightened demand for safe-haven assets. The ongoing US-Israeli campaign against Iran has now reached its 12th day, with the Pentagon indicating that it has conducted its most intense strikes to date, continuing operations until Iran is ultimately defeated.

Despite President Donald Trump’s assertion that the conflict may reach a resolution shortly, prevailing uncertainty has led to a cautious stance among investors. Oil prices experienced constraints following the IEA’s proposal for the most significant strategic reserve release on record. Nonetheless, apprehensions regarding supply continued as significant producers in the Middle East curtailed production, and the Strait of Hormuz remained largely inaccessible, thereby constraining sentiment in the energy market.