Silver (XAG/USD) halts its intraday gains, consolidating below the daily high as initial optimism over a possible ceasefire between the United States and Iran faded following statements from Tehran.

The sharp rise in silver prices followed reports that the United States had proposed a 15-point plan to resolve the conflict. This initiative briefly improved market sentiment and reduced the geopolitical risk premium embedded in oil prices. As a result, concerns about accelerating inflation eased, temporarily reducing pressure on global central banks regarding potential monetary tightening and supporting interest in silver.

However, the effect proved short-lived: Iran rejected the US proposal, stating that any resolution of the conflict would be possible only on its own terms. According to the state agency Press TV, Tehran demanded a complete cessation of attacks and killings, guarantees that hostilities would not resume, compensation for damages, an end to fighting across all regional fronts, and recognition of Iran's sovereign control over the Strait of Hormuz.

From a technical perspective, the daily chart indicates that the short-term outlook for XAG/USD is neutral to moderately bearish after approaching the 100-day simple moving average (SMA). Prices remain below this level, which is limiting further upward movement.

Oscillators remain negative, indicating weak bullish momentum.