SLV is trading at $62.26 (up 2.5%) in pre-market action, rebounding from a sharp 6.81% selloff in the previous session triggered by escalating Middle East tensions.
- The recovery follows President Trump's decision to postpone energy strikes against Iran, providing a relief rally for precious metals as futures stabilize.
- Oil prices have gained 1.2%, supporting the bounce despite ongoing geopolitical risks including Iran's rejection of a US peace proposal and threats to the Strait of Hormuz.