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- Silver trims gains as easing safe-haven demand amid US–Iran talks weighs on prices.
- Donald Trump said the US will escort neutral ships through the Strait of Hormuz starting Monday.
- Iran proposed a one-month deadline for talks to reopen the Strait of Hormuz and end conflicts in Iran and Lebanon.
Silver price (XAG/USD) declines after opening at a gap up, but remains in the positive territory and trades around $75.40 per troy ounce during the Asian hours on Monday. The white metal trims its daily gains amid easing safe-haven demand, as traders evaluate progress in the United States (US)–Iran peace negotiations.
A Sunday report by Bloomberg indicated that Donald Trump said the United States will begin guiding neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting Monday. The initiative is intended to help civilian vessels from non-aligned countries exit the contested waterway and resume normal operations.
Mediation efforts to end the war have continued as the conflict in Iran enters its third month. Iran said it is reviewing Washington’s response to its latest 14-point proposal, boosting optimism for a diplomatic resolution to the conflict. Trump suggested that Tehran’s latest peace proposal may fall short of expectations, Bloomberg reported Sunday.
According to Axios, citing sources familiar with the matter, Iran has proposed setting a one-month deadline for talks aimed at reopening the Strait of Hormuz and ending both the US naval blockade and the conflicts in Iran and Lebanon.
The non-yielding Silver faced headwinds as the Middle East conflict has driven energy prices sharply higher and increased inflation risks, raising concerns that central banks may keep interest rates elevated for longer or even tighten policy further.
