Silver Climbs to $66 as Oil Extends Slide on 60-Day US-Iran Peace Roadmap
Updated
Updated · TradingView · Jun 19
Silver Climbs to $66 as Oil Extends Slide on 60-Day US-Iran Peace Roadmap
3 articles · Updated · TradingView · Jun 19
Summary
$66 an ounce marked silver’s rebound Monday, with the metal recovering recent losses as crude fell further on reports that Washington and Tehran agreed on a path to a final peace deal within 60 days.
Those reports eased supply fears after recent US-Iran threats tied to the Lebanon conflict, even though Tehran said it had again closed the Strait of Hormuz.
Millions of barrels still moved through the waterway over the weekend, while Persian Gulf producers prepared to raise output, reinforcing the drop in oil prices.
Investors are also watching this week’s US PCE inflation data after the Fed held rates steady but kept a hawkish tone; 9 of 19 policymakers now see at least one hike this year.