Silver's $60 Support Buckles as Hawkish Fed and Iran Détente Overwhelm 46-Million-Ounce Supply Deficit
Published on 06/24/2026 at 09:51 | Redaktion boerse-global.de
Silver slid to its lowest in nearly six months on Tuesday, shedding about 5%, as a surging US dollar and a thaw in Middle Eastern tensions stripped the metal of its inflation-hedge premium. The spot price hovered near $61 in European trading, testing a support level that chartists view as the last line of defence before a potential drop toward $58.50.
The dollar index climbed to a 13-month high, fuelled by hawkish signals from Federal Reserve Chairman Kevin Warsh. Core inflation remains stubbornly stuck near 3.5%, prompting Bank of America to pencil in three rate hikes for 2026. Rising bond yields have made non-yielding silver increasingly unattractive, triggering heavy speculative liquidation.
On the geopolitical front, the US and Iran made unexpected headway in peace talks. Washington has authorised Iranian crude exports for a 60-day period, and the Strait of Hormuz is partially reopening. Brent crude slipped below $77, extinguishing fears that energy-driven inflation would spiral. With that narrative gone, silver’s safe-haven appeal has diminished considerably.
Should investors sell immediately? Or is it worth buying Silber Preis?
The industrial side offers a more nuanced picture. Solar manufacturers are reducing silver content per cell through technological advances, while higher Indian import tariffs are curbing physical buying. Yet structural support remains: analysts forecast a global supply deficit of 46 million ounces this year, underpinned by robust demand from electric vehicles and AI data centres. That deficit has prevented an even steeper slide.
Technically, silver has slipped below its 20-day moving average, and the $61 mark is providing only temporary support. A break below that level opens the door to the $60 psychological threshold and, further down, the $58.50 zone. The current quarter is on track for its worst performance since June 2022, having fallen nearly 50% from the record high of $117.
All eyes are now on Thursday’s US core inflation data. If the numbers fail to show a clear cooling, the Fed is expected to maintain its restrictive stance, keeping the dollar strong and silver under pressure. Until either the greenback eases or the geopolitical risk premium returns, sellers are likely to remain firmly in control.
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