Silver Pressured by Middle East Tensions
Silver traded below $75 an ounce on Wednesday after plunging more than 5% in the previous session, as escalating tensions between the US and Iran kept markets focused on inflation risks and the likelihood of higher interest rates. President Donald Trump warned that the US could resume strikes on Iran within “two or three days” if Tehran failed to accept Washington’s peace terms. The comments came shortly after Trump said he had canceled a planned attack following appeals from Gulf allies, while Iran’s nuclear program continued to be a key obstacle in negotiations. The prolonged conflict has effectively kept the vital Strait of Hormuz closed to shipping traffic, pushing oil prices higher and adding to inflationary pressures. Silver has also surrendered gains recorded earlier this month that were fueled by optimism surrounding AI-related stocks and stronger demand for metals used in data-center infrastructure.