Silver Plummets Amid Iran Conflict, Oil Disruptions

0:00It's April 3rd. I'm Cory with the story, and this is Durham News Today, local news powered by AI. Spot Silver took a brutal 5% dive to around $71.26 on April 2nd, right after President Trump's prime time speech on April 1st. He vowed to slam Iran extremely hard over the next 2-3 weeks, targeting their power plants and oil setups unless they cut a deal. Gold grabbed the spotlight, but only dropped 2.3 to 2.8% that day. Markets were banking on de-escalation from the address, but it flipped the script. Brent Crude shot up over 6% to about $107 a barrel. The dollar got stronger and stocks tumbled. Silver's steeper fall highlights is split personality. It's not just the safe haven play like gold. Gold's mostly a store of value for banks and investors, but Silver's 59% industrial, selling solar panels, electronics and electric, vehicles, war talk spark growth worries,

1:00crimping that demand outlook and making Silver twice as volatile. This hit came amid Silver's wild ride down, over 40% from its late January peak of $121 to $122. In ounce, since the Iran conflict kicked off February 28th, higher oil fan inflation fears, pushing back federate cuts and hiking yields, which punish non-yielding metals extra hard. Iran's guards claimed their missile and defense systems held up, no ceasefire in sight, and oil disruptions roll on through the straight of four moves. Silver's green tech stories stay solid long term, but right now, it's squeezed type between economic slowdown and macro headwinds.