Silver Dips Over 4% intraday, Metals Market Under Pressure

As the situation in Iran becomes stalemated once again, oil prices have stabilized above $100, fluctuating above this mark today. This has affected the overall metals market, causing it to bear pressure and decline.

The spot silver fell more than 4.0% during the day, reporting at $74.49 per ounce. Spot gold also decreased by 1% during the day, failing to hold the $4,700 mark, and standing at $4,690.1 per ounce. Platinum and palladium separately fell by over 3% and 4%, and industrial metals are also under overall pressure.

In terms of news, on April 22nd, the US, Iran, and Pakistan made statements regarding the new round of peace talks, originally scheduled to start on the 24th. Significant contradictions are evident in the public statements, reflecting that geopolitical mediation is entering a deep state of stalemate.

The talks are finding it hard to reach a consensus on deep red-line issues such as nuclear testing monitoring, lifting of strait blockades, and "global economic coercive actions," with momentum severely hampered.

At the same time, front-line military pressure continues to rise. With the arrival of the USS Bush strike group, the US military will form a short-term alternate deployment scenario of the USS Bush, USS Ford, and USS Lincoln carrier strike groups in the Middle East. The level of deterrence for sea blockades and counter-blockades reaches a new high.

The US and Iranian sides have simultaneously raised their military alert levels, and the regional situation is transitioning from diplomatic games to high-pressure military confrontation. As a result, Iran's blockade actions in the Strait of Hormuz have not eased, and the US has publicly stated that it has led to a sustained expansion of the global oil supply gap."