Silver is down by 7.12%

Silver rose above $78 an ounce on Wednesday, recouping some losses from the previous session after President Donald Trump extended the ceasefire with Iran, although plans for a second round of peace negotiations collapsed. Trump said he would delay further strikes until Iran presents a new proposal and negotiations are concluded. Meanwhile, reports indicated Vice President JD Vance canceled a planned trip to Islamabad for talks after Tehran informed the US via Pakistan that it would not take part in the meeting. Iran also stated it would not reopen the Strait of Hormuz while the US Navy continues intercepting vessels. Still, silver is currently down over 15% since the conflict began. The metal also faced additional pressure from the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh, who pledged to act independently. He called for a new framework to address persistent inflation but did not provide further specifics.

Silver held below $78 an ounce on Wednesday after dropping nearly 4% in the previous session, as plans for a second round of US-Iran peace negotiations collapsed, although President Donald Trump extended the ceasefire. Reports indicated Vice President JD Vance canceled a planned trip to Islamabad for talks after Tehran informed the US via Pakistan that it would not take part in the meeting. Iran also stated it would not reopen the Strait of Hormuz while the US Navy continues intercepting vessels. Meanwhile, Trump said he would delay further strikes until Iran presents a new proposal and negotiations are concluded. Silver is currently down roughly 17% since the conflict began. The metal also faced additional pressure from the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh, who pledged to act independently. He called for a new framework to address persistent inflation but did not provide further specifics.

Silver decreased 5.01% to 75.711 USD/t.oz