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Silver prices rebounded on Friday, climbing back to $76 per ounce amid cautious optimism about possible progress in US–Iran peace negotiations. According to Al Jazeera, Iranian Deputy Foreign Minister Abbas Araghchi is expected to arrive in Islamabad on Friday evening, with Pakistani government sources suggesting a “high likelihood of a breakthrough” in the ongoing talks between Washington and Tehran. The visit comes on the heels of recent discussions between Iranian and Pakistani officials over a potential ceasefire, though significant uncertainties persist.
US President Donald Trump has reiterated his interest in securing a “great deal,” while stressing that he is “not in a rush.” Despite Friday’s bounce, silver remains on track for a weekly loss of nearly 7%, as negotiations have delivered only limited progress so far. The continued closure of the Strait of Hormuz has pushed energy prices higher, intensifying inflation concerns. In turn, rising inflation risks and the prospect of central bank rate hikes are undermining the appeal of non-yielding assets such as silver.
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