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- Silver weakens as safe-haven demand fades amid growing optimism over easing Middle East tensions.
- Trump indicated that the Iran conflict will end soon, within two to three weeks.
- Non-yielding Silver may find support as easing geopolitical tensions lower oil prices and central bank tightening odds.
Silver price (XAG/USD) halts its three-day winning streak, trading around $74.20 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver weakens as optimism grows over easing tensions in the Middle East.
US President Donald Trump said on Tuesday that the United States (US) would be “leaving very soon” from the Iran conflict, with a withdrawal possible within two to three weeks. The remarks build on earlier signals that US objectives have largely been achieved, fueling expectations of a quicker resolution. Trump also stated that a formal agreement with Tehran is not required to end hostilities, emphasizing military outcomes over diplomatic negotiations.
Iranian President Masoud Pezeshkian expressed openness to de-escalation if specific guarantees are secured. However, Foreign Minister Abbas Araghchi maintained a firmer stance, rejecting a temporary ceasefire and calling for a full end to the war, alongside assurances against future attacks and compensation for damages, keeping uncertainty elevated.
Despite recent weakness, the non-yielding Silver could find support as easing tensions may lower oil prices and reduce fears of further central bank tightening. Silver fell nearly 20% in March, marking its sharpest decline since September 2011, driven by energy market disruptions and rising inflation concerns that reinforced a hawkish policy outlook. Markets have also shifted, with traders now abandoning expectations of US rate cuts in 2026, reversing earlier projections of two cuts before the conflict.
