Silver bulls target $69 on improved market mood
Silver retraced previous losses on Friday, with XAGUSD returning to levels in the mid-range of the $67.00s. A moderate optimism about a peace deal in Iran and lower US Treasury yields buoyed the yieldless precious metal on Friday, luring bulls into the $69.00 resistance area.
The white metal is drawing support from comments by President Donald Trump, affirming that the US and Iran reached a “great settlement” for a deal that is likely to be signed “in the next days”.
Iranian authorities have shown a somewhat colder stance, although the Foreign Ministry spokesperson, Esmail Baghadei affirmed in local media that the possibility of a deal is closer than ever before.
In the U.S., Producer Price Index (PPI) figures, released on Thursday, were mixed.
Headline inflation accelerated to its highest level in more than three years, but core inflation remained unchanged, against expectations of further growth. This triggered hopes that the spillover from energy prices starts to ebb, pushing back hopes of Federal Reserve rate hikes.
(Source: OANDA)
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6/12/2026 11:36:19 PM