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- Silver rises as Middle East de-escalation lowers oil prices, easing inflation concerns and central bank hawkishness.
- Washington ended offensive operations against Iran, reaffirming the ceasefire, as Marco Rubio said objectives were achieved.
- Defense Secretary Pete Hegseth said the US-Iran ceasefire holds despite Gulf clashes over the Strait of Hormuz.
Silver price (XAG/USD) rises after two days of losses, trading around $75.20 per troy ounce during the Asian hours on Wednesday. The non-yielding white metal gains ground as signs of de-escalation in the Middle East weighed on oil prices, helping to ease inflation concerns and hawkish sentiment surrounding the central banks.
Silver price has come under sustained selling pressure since the start of the conflict, as surging energy costs fueled inflation concerns and strengthened expectations that central banks may keep interest rates higher for longer or even tighten policy further.
Washington announced an end to offensive operations against Iran and reaffirmed the ceasefire, with US Secretary of State Marco Rubio stating that “Operation Epic Fury is concluded,” adding that its objectives had been achieved.
However, US Defense Secretary Pete Hegseth said on Tuesday that the ceasefire with Iran was not fully settled, as both sides continued exchanging fire in the Gulf amid tensions over control of the Strait of Hormuz.
US President Donald Trump stated that the US would temporarily pause efforts to help stranded vessels exit the Strait of Hormuz, allowing time to evaluate prospects for a deal with Iran to end the conflict. However, the blockade on ships traveling to and from Iranian ports will remain in effect.
