Silver hovered around $70 per ounce on Tuesday, oscillating between small gains and losses amid mixed signals on a Middle East diplomatic breakthrough. While President Trump delayed US strikes on Iran, citing "positive talks", a claim Tehran rejected as "psychological warfare", reports hinted at possible indirect negotiations. Tensions escalated further as the Wall Street Journal reported that Saudi Arabia and the UAE may join the conflict, and an Israeli official told CNN that a ceasefire remains "out of reach" due to Iran’s unwillingness to compromise. Israel’s Defense Minister reiterated plans to "continue striking Iran with full force." The metal stayed near its lowest level since December, pressured by rising energy prices and inflation concerns. With Fed rate cuts now off the table for 2026, traders are preparing for additional tightening from other key central banks.