Silver prices pared earlier losses to trade near $75 per ounce on Wednesday, supported by a weaker US dollar and shifting geopolitical signals in the Middle East. Although the metal extended its steep monthly decline from March, it rebounded from recent lows as the dollar index pulled back from a ten‑month high amid indications that Washington is seeking to restore shipping flows in the region.
President Donald Trump said Iran had requested a ceasefire but stressed that the US would only consider an agreement once the Strait of Hormuz is fully operational and secure, while warning of further escalation if attacks on tankers continue. This stance kept volatility elevated across commodity markets, with oil prices swinging after a brief decline and the 10‑year Treasury yield holding largely steady following a sharp increase last month.
Even after the latest recovery, silver remains well below its record highs, as robust US private employment and retail sales data continue to point to a resilient economy.
