Shanghai Silver Surges Nearly 5% Today Amid Geopolitical Tensions, Rebound Sustainability Uncertain

According to Jin10 Futures, Shanghai Silver surged nearly 5% today (July 22), while Shanghai Gold rose approximately 3%. The rally was driven by technical correction demand following a prior downtrend, coupled with signals of marginal easing in U.S.–Iran tensions and a modest uptick in market risk appetite. However, the U.S. Dollar Index returned above 101 and rising Treasury yields capped gains.

Iran proposed a 10-day ceasefire and suggested establishing a transit corridor through the Strait of Hormuz, according to reports. President Trump rejected the overture, stating he had no interest in meeting and vowing to make Iran "pay the price" for U.S. military casualties and alleged breaches of agreements, including threats to strike nuclear facilities. The Middle East geopolitical situation remains volatile and uncertain.