FX.co ★ Silver Pressured by Iran Uncertainty

Silver traded above $71 per ounce on Thursday but struggled to extend its recent advance, as conflicting signals from the US and Iran over potential peace talks kept financial markets on edge. Washington insists that negotiations are underway, with the Trump administration reportedly sending a 15-point proposal to Tehran via Pakistan aimed at resolving the conflict and reopening the Strait of Hormuz. Iran, however, has stated it has no intention of negotiating with the US and would reject any American ceasefire proposal, instead outlining its own conditions, including full sovereign control over the strategic waterway. At the same time, the US has ordered the deployment of thousands of additional troops to the Middle East, heightening fears of a possible ground invasion. Silver has come under heavy selling pressure this month, as surging energy prices—driven by disruptions linked to the Iran war—have stoked inflation concerns and triggered a more hawkish stance among major central banks.