Silver is up by 5.01%

Silver increased 5.01% to 82.338 USD/t.oz

Silver extended gains on Friday, climbing around 5% to reach $82 per ounce, as investors welcomed news that the Strait of Hormuz will remain fully open to commercial shipping during the 10-day ceasefire between Israel and Lebanon. However, vessels are required to transit through a “coordinated route,” according to Iran’s maritime authorities, Iran’s foreign minister said. The announcement triggered a sharp drop in oil prices which fell more than 10%, helping to ease inflationary pressures, at least in the short term. Despite the improved sentiment, the broader situation remains fragile. US President Trump stated that the US naval blockade “will remain in full force” until a comprehensive agreement is reached. Silver is now on track to end the week 3.6% higher, marking a fourth consecutive weekly gain and is nearly 30% above its March low, supported by expectations that a more lasting US–Iran agreement could reduce inflation risks and limit the need for central bank tightening.

Silver held steady near $79 an ounce on Friday and was on track for a fourth consecutive weekly advance, as prospects for a permanent ceasefire agreement between the US and Iran helped ease concerns over inflation and central bank rate hikes. President Donald Trump said Tehran had agreed to terms including abandoning ambitions for a nuclear weapon, supplying “free oil,” and reopening the Strait of Hormuz, although Iranian officials have yet to verify these claims. Despite this, the Strait of Hormuz remains effectively closed under a dual blockade, while IMF Executive Director Fatih Birol cautioned that restoring a meaningful portion of disrupted oil and gas output could take up to two years. Even so, oil prices have retreated sharply amid growing optimism over a potential Iran deal, easing inflationary pressures and dampening expectations of further rate hikes. Silver is set to rise by about 4% this week and was nearly 30% above its March low.