iShares Silver Trust is trading 4.8% up today as investors rotate back into risk assets following the announcement of a 60-day U.S.–Iran peace deal and the reopening of the Strait of Hormuz.
- Crude oil prices fell more than 4% on the news, easing inflation concerns and supporting lower-for-longer interest rate expectations, which historically boosts demand for precious metals.
- Silver is trading near multi-year highs amid strong industrial and investment demand, further supported by a broader risk-on rally that has pushed major U.S. indices up 1%–2%.
- The commodity is seeing renewed interest as a diversification tool and hedge as geopolitical risks sharply reduce and the macroeconomic backdrop shifts.