Silver Price Forecast: XAG/USD drifts below $70.00 as hopes of ceasefire in Middle East wane - FXStreet

The Middle East tension trade is cooling off, but that's missing the bigger picture. Silver touched $70 and is now consolidating - classic precious metals behavior after a strong run. The industrial demand story remains intact with green energy buildouts accelerating globally. Solar panel installations alone require massive silver inputs that aren't going anywhere regardless of geopolitical noise. Smart money uses these geopolitical-driven dips to add physical. The gold-to-silver ratio is still elevated historically, suggesting silver has more room to run when the next leg up begins. Physical premiums haven't budged much, telling me dealers expect this pullback to be temporary.