The Price of Silver and the Iran Conflict

Advertisement - This article is distributed on behalf of Endeavour Silver Corp. and Vizsla Royalties Corp., with which SRC swiss resource capital AG maintains paid investor relations consulting agreements. Publisher: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: May 28, 2026, 10:30 a.m. Zurich/Berlin

It would be positive if the silver price could continue its recovery above the $76.60 per troy ounce mark. A few days ago, this did not happen, as yields on U.S. Treasury bonds rose again, putting pressure on precious metals, including silver. Over the past two weeks, bond yields have risen significantly, as the market now anticipates that the Fed may raise interest rates. Interest rate cuts, on the other hand, would be good for precious metals. Expectations of interest rate hikes, triggered by higher oil prices, are simply not good news.

New US strikes against Iran have currently dampened hopes for a resolution to the Iran conflict once again. So, for now, the situation remains back-and-forth. Incidentally, before the start of the Iran conflict, two interest rate cuts were still expected this year. Now, the key factor will be how inflation in the U.S. develops. If yields on U.S. Treasury bonds continue to rise, this would not be favorable for the price of silver.

However, there are also many positive voices, such as from UBS, suggesting that the silver price will be significantly higher by the end of 2026 than it is today. The bank currently stands by its assessment that a troy ounce of silver will then be priced at around $100, . The reason for the positive outlook on the development of the silver price (and also the gold price) lies in the factors that remain intact. Real interest rates are falling, and demand should continue. The impact of geopolitical events represents only a short-term headwind.

Endeavour Silver (- https://www.commodity-tv.com/ondemand/companies/profil/endeavour-silver-corp/ -) owns three producing mines. The company’s projects are located in Mexico and Peru. In addition, there are planned exploration projects in Mexico, Chile, and the U.S. In the first quarter of 2026, the company produced 1,875,375 ounces of silver and 11,740 ounces of gold, setting new records for revenue and production.

Vizsla Royalties (- https://www.commodity-tv.com/ondemand/companies/profil/vizsla-royalties-corp/ -) is a royalty company that offers proprietary diversification and holds two NSR royalties. First, a 2% interest in the Panuco property in Mexico, which is a primary, high-grade silver resource. Second, a 3.5% interest in the Silverstone concessions. Elemental Royalty is currently seeking to acquire Vizsla Royalties for approximately 327 million Canadian dollars.

Current company information and press releases from Vizsla Royalties (-  https://www.resource-capital.ch/de/unternehmen/vizsla-royalties-corp/ -) and Endeavour Silver (- https://www.resource-capital.ch/de/unternehmen/endeavour-silver-corp/ -).

For further information, please refer to our new Precious Metals Report at the following link:
https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/.

Sources: Vizsla Royalties, Endeavour Silver

https://www.tradingview.com/news/te_news:553595:0-silver-eases-as-middle-east-uncertainty-persists/;

https://www.finanzen.net/nachricht/rohstoffe/bullische-prognosen-goldpreis-und-silber-ubs-sieht-deutliches-aufwaertspotenzial-bis-jahresende-00-15697678;

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/.

Pursuant to Section 85 of the German Securities Trading Act (WpHG) in conjunction with Article 20 of the Market Abuse Regulation (MAR) (EU) 2016/958, we hereby note that authors, employees, and affiliated companies of Swiss Resource Capital AG (SRC) may hold positions (long/short) in the issuers discussed. Compensation/Relationship: IR contracts/advertorials: Author’s own positions: none; SRC net position: less than 0.5%; Issuer’s stake ≥ 5% in SRC: no. Update Policy: no obligation to update. No guarantee regarding the German translation. Only the English version of this news release is authoritative.

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