Silver Holds Advance

2026-05-07 00:10 By Jam Kaimo Samonte 1 min. read

Silver held above $77 an ounce on Thursday after gaining over 6% in the previous session, as hopes for a US-Iran agreement triggered a sharp decline in oil prices and helped ease inflation worries.

Reports indicated that the US had sent a one-page memorandum of understanding through Pakistani mediators aimed at formally ending the conflict and potentially allowing the gradual reopening of the Strait of Hormuz.

Tehran is expected to respond in the coming days after confirming it was reviewing a US peace proposal, while more comprehensive negotiations over Iran’s nuclear program are reportedly expected later.

Oil prices tumbled, easing concerns over inflationary pressures and reducing expectations that central banks would need to maintain restrictive policies for longer.

Still, Federal Reserve Bank of Chicago President Austan Goolsbee warned that inflation has not continued to cool toward the US central bank’s 2% target and has instead accelerated since the outbreak of the war.



News Stream
Silver Holds Advance
Silver held above $77 an ounce on Thursday after gaining over 6% in the previous session, as hopes for a US-Iran agreement triggered a sharp decline in oil prices and helped ease inflation worries. Reports indicated that the US had sent a one-page memorandum of understanding through Pakistani mediators aimed at formally ending the conflict and potentially allowing the gradual reopening of the Strait of Hormuz. Tehran is expected to respond in the coming days after confirming it was reviewing a US peace proposal, while more comprehensive negotiations over Iran’s nuclear program are reportedly expected later. Oil prices tumbled, easing concerns over inflationary pressures and reducing expectations that central banks would need to maintain restrictive policies for longer. Still, Federal Reserve Bank of Chicago President Austan Goolsbee warned that inflation has not continued to cool toward the US central bank’s 2% target and has instead accelerated since the outbreak of the war.
2026-05-07
Silver Surges Over 6% as Middle East Tensions Ease
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.
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