Silver Gains After Early Decline

Silver prices gained Monday after a volatile start to the week. The precious metal initially fell but then showed strength. This followed reports about Middle East rhetoric.

Former President Donald Trump spoke of “productive talks” between Americans and Iranians. Iranian officials, however, stated the Trump administration backed down. These conflicting statements influenced market sentiment.

US 10-year interest rates reached 4.43% Monday morning. Higher interest rates can make non-yielding assets like silver less attractive. Silver did find support, bouncing off its 200-day exponential moving average.

Traders noted the market moved largely on emotion. Silver has faced pressure over the past few months. This comes after an earlier impressive rise in value.