Silver (XAG/USD) Bid Lifts as Hormuz Tensions Escalate
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Silver is drawing renewed safe-haven interest as tensions around the Strait of Hormuz intensify. Supertanker earnings on the Saudi-to-China route have surged past $647,000 a day, more than ten times year-ago levels, underscoring how seriously markets are pricing continued Gulf oil war risk.
That surge in shipping costs is a proxy for broader geopolitical stress, and precious metals like silver typically benefit when investors seek protection against energy-driven volatility and supply chain disruption.
With Persian Gulf producers pushing more crude through a contested chokepoint, any escalation could send fresh haven bids into XAG/USD, particularly if oil-linked inflation fears resurface alongside the shipping crunch.