Silver rose by over 1% to $73 per ounce on Tuesday, following an 8% slump in the previous session, which marked the steepest daily drop in over five years, as traders booked profits. Ongoing geopolitical tensions continue to support silver as a safe-haven asset. Uncertainty persists as Russia and Ukraine continue to stall on peace talks, with reports that President Putin told President Trump Moscow would reconsider its position after alleged Ukrainian strikes near strategic sites. Additional tension came from US warnings of possible strikes on Iran if it rebuilds its nuclear and missile programs, while China conducted extended military drills around Taiwan. Despite near-term volatility, silver remains on track for a roughly 158% gain, one of its best annual performances since 1979, supported by strong industrial demand, lingering supply constraints, persistent ETF inflows, central bank buying, and three US rate cuts, with markets factoring in expectations of further easing in 2026.
