On Tuesday, silver surpassed $81 per ounce, driven by a weaker dollar and declining Treasury yields. Early this week, there was a notable decrease in oil prices following the successful transit of tankers through the Strait of Hormuz. The US Treasury Secretary, Scott Bessent, indicated that Iran is permitted to transport crude oil through the Strait of Hormuz. Market participants anticipate that the US Federal Reserve will maintain interest rates in light of the prevailing uncertainties stemming from the conflict in Iran. The forecast for silver remains optimistic, bolstered by an anticipated global supply shortfall of 67 million ounces by 2026.

On Tuesday, silver prices climbed past $81 per ounce, buoyed by declining US Treasury yields and a weaker dollar, which enhanced investor confidence. Oil prices experienced a decline as multiple tankers successfully navigated the Strait of Hormuz, alleviating concerns regarding potential supply disruptions in the short term. US Treasury Secretary Scott Bessent has affirmed that Iran persists in transporting crude via this route, as President Donald Trump endeavors to garner global collaboration to safeguard commercial shipping activities.

Market participants are largely anticipating that the US Federal Reserve will maintain the current interest rate levels in light of the geopolitical uncertainties associated with the conflict in Iran. At its core, silver is bolstered by robust demand from the electronics sector, alongside an anticipated global supply shortfall of 67 million ounces by 2026.