Silver Crashes 10% as Iran War, Hawkish Central Banks Spark Selloff
Silver plummeted over 10% toward $65 per ounce on Thursday, its lowest since mid-December, as the precious metals rout deepened amid Iran war-driven volatility and hawkish central bank shifts. Investors recalibrated expectations after major banks held rates firm, citing inflation risks and geopolitical uncertainty. The US Federal Reserve kept rates unchanged, warning of economic fallout from the Iran conflict and sticky inflation, with Chair Jerome Powell leaving the door open to a hike. Japan’s BoJ Governor Kazuo Ueda teased a possible April rate increase, while the Bank of England unanimously held rates but turned unexpectedly hawkish. Markets now push Fed easing to 2027 and price in two BoE hikes this year, weighing heavily on silver’s outlook.