Silver strengthened above $68 per ounce on Friday after a sharp decline in the previous session, as President Donald Trump postponed his deadline for Iran to secure a deal to end the war. Trump pledged to refrain from targeting Iranian energy facilities until April 6, offering some relief to markets unsettled by nearly a month of hostilities. He also noted that Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week as a “present” to the US. Meanwhile, Iran confirmed it had rejected the US’ 15-point plan to end the war and submitted its own conditions, including recognition of Tehran’s authority over Hormuz. On Thursday, silver fell more than 4% amid persistent doubts that the US and Iran can reach a ceasefire soon. Precious metals came under heavy selling pressure as the Middle East conflict and rising energy prices fueled inflation concerns and reinforced expectations that major central banks could hike interest rates this year.