Silver Leads Metals Higher Amid Defense of Key Support Levels

Silver outpaced other metals on Thursday, rising on safe-haven demand tied to U.S.-Iran risks. Spot gold traded near $4,214.40 an ounce, up 3.54%, while silver reached $67.220, gaining 6.20%. Prices later eased after signals of a potential oil deal emerged. Data showed U.S. producer prices rising 1.1% in May and 6.5% year-over-year, with energy costs up 10.7%. Jobless claims increased to 229,000. The Strait of Hormuz stayed in focus amid conflicting reports on closures and ship transits, as President Trump canceled strikes in favor of talks. WTI crude fell below $87, Brent tested $90, the dollar softened and 10-year yields held near 4.5%. Technically, gold targets above $4,100 next while silver eyes the $65-$66 zone.