Silver is up by 5.03%

Silver jumped more than 6% to above $77 an ounce on Wednesday, reaching its highest level since April 21, as signs of de-escalation in the Middle East weighed on oil prices, easing inflation concerns. According to Axios, the White House is close to a deal with Iran to end the conflict and start nuclear talks, the nearest to an agreement since the war began. The proposal would require Iran to accept enhanced UN inspections, halt nuclear enrichment for 12–15 years, potentially transfer highly enriched uranium abroad, and limit underground facilities. In return, the US would gradually lift sanctions and unfreeze billions in Iranian assets. Earlier, US President Donald Trump paused escalation plans, citing progress in talks. Precious metals had faced significant selling pressure since the war began, as soaring energy costs fueled inflation fears and reinforced expectations that central banks might keep interest rates elevated or tighten policy further.

Silver increased 5.03% to 76.461 USD/t.oz

Silver jumped above $75 an ounce on Wednesday, recovering losses from earlier in the week as signs of de-escalation in the Middle East weighed on oil prices, helping to ease inflation concerns. Defense Secretary Hegseth said the ceasefire established nearly a month ago remains in place, while Secretary of State Rubio confirmed that offensive operations have ended as Washington shifts its focus to securing shipping routes in the Strait of Hormuz. President Trump also announced a temporary pause in a US-led effort to assist stranded vessels in exiting the strait, allowing time to assess whether a deal with Iran to end the conflict can be reached, though the blockade on ships traveling to and from Iranian ports will remain in effect. Silver 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.