Silver (XAG/USD) dropped to around $83.60 in early European trading on Friday, pressured by a strong US Dollar (USD). Geopolitical tensions in the Middle East continue to provide support for silver as a safe-haven asset, but USD strength keeps selling interest present.

Key Drivers
Middle East Tensions: Iran’s Supreme Leader Mojtaba Khamenei has vowed to keep the Strait of Hormuz closed, heightening safe-haven demand.
US Dollar Strength: Persistent inflationary pressures and delayed Fed rate cuts (pushed from July to September) are supporting the USD, weighing on silver.
Energy & Inflation Impact: Oil supply disruptions from the region increase inflation risks, reinforcing the USD and limiting silver upside.

Technical Levels

Support:
$83.50 – Immediate short-term support
$82.50 – Key swing low
$81.50 – Lower support zone
Resistance:
$84.50 – Near-term barrier
$85.20 – Previous highs
$86.00 – Strong technical resistance

Outlook:
Silver remains bearish below $84.50, with further downside toward $83.50–$82.50 possible.
Only a sustained recovery above $84.50 would shift momentum and open a path toward $85.20–$86.00.

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