Silver is up by 5.01%

Silver eased toward $85 an ounce on Tuesday, reversing gains from earlier in the session as elevated geopolitical uncertainty in the Middle East and the prolonged disruption of the Strait of Hormuz kept oil prices higher and sustained inflation concerns. President Donald Trump said the US-Iran ceasefire was on “massive life support” after rejecting Tehran’s latest peace proposal, deepening fears that the strategically vital shipping corridor could remain effectively constrained for an extended period. At the same time, investors looked ahead to the latest US consumer inflation data for signals on how the Iran conflict is feeding through into broader price pressures. Meanwhile, silver surged more than 7% to a two-month high on Monday, outperforming other precious metals due to its significant industrial usage, which improved expectations for physical demand alongside its traditional safe-haven appeal.

Silver soared over 6% to $85.5 an ounce on Monday, rebounding from early losses to hit its highest level in nearly two months as investors monitored US-Iran negotiations. President Donald Trump dismissed Iran’s peace proposal as “totally unacceptable,” heightening the risk of renewed conflict, while weekend attacks in the Middle East threatened a fragile April ceasefire. With diplomatic efforts stalled, the Strait of Hormuz remains blocked, keeping oil prices high and fueling inflation concerns. Expectations for two US rate cuts this year have faded, with forecasts now split between limited easing and no cuts in 2026. Markets also focused on Tuesday’s US CPI data and Trump’s upcoming China visit, where he will meet President Xi Jinping to discuss Iran, Taiwan, AI, and nuclear weapons.

Silver increased 5.01% to 84.35 USD/t.oz