Spot Silver pulled back from a one-month peak on Wednesday, in unison with Gold, as optimism over another round of peace talks between the US and Iran boosted risk sentiment.
US President Donald Trump said yesterday that negotiations to end the Iran war could resume in Pakistan over the next two days after weekend talks collapsed.
US Vice President JD Vance reiterated a cautiously constructive message at a public event, stating that Washington is working toward a broader grand bargain aimed at reshaping Iran’s economic integration with the global system.
In parallel, United Nations Secretary-General António Guterres told reporters on Tuesday that the resumption of US-Iran talks was highly probable.
Optimism over diplomatic efforts to prolong the US-Iran ceasefire has been a central factor behind the recent softening of the US Dollar, which fell to a more than 1-month low.
Expectations that such diplomacy could reduce the risk premium in energy markets have also influenced inflation prospects and Fed policy pricing.
Markets are now pricing in a 29% chance of a 25 basis point Fed rate cut by year-end, compared to about 13% last week.
Spot Silver was last down 0.94% on the day to trade at $78.75 per troy ounce.
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