13.03.202602:48:14UTC+00Silver Set to End Week Flat

Silver climbed to around $85 per ounce on Friday after two consecutive declines, but remained on course to finish the week largely flat as a stronger dollar offset gains driven by geopolitical tensions and soaring oil prices. Resolute statements from leaders in Tehran and Washington signaled that the Iran conflict is still far from de-escalation, even after nearly two weeks of hostilities. Oil prices surged further after Iran’s new supreme leader, Mojtaba Khamenei, vowed to keep the Strait of Hormuz effectively closed while Tehran stepped up attacks on regional oil and transport infrastructure. Mounting inflation risks led markets to delay expectations for the next Federal Reserve rate cut from July to September. Investors are now focused on January’s PCE price index, the Fed’s preferred inflation gauge, for fresh insight into price dynamics, though the data will not capture the economic impact of the Iran conflict.