Silver futures fell more than 7% on Tuesday, dipping below $83 per ounce, as a stronger US dollar and rising inflation concerns curbed demand for safe-haven assets amid escalating geopolitical tensions. The greenback gained support as investors sought refuge amid surging energy prices linked to the Middle East conflict. Rising fuel costs also fueled inflation worries, pushing bond yields higher and prompting markets to reassess the Federal Reserve’s policy path. Expectations for the next Fed rate cut have shifted from July to September, though two 25-basis-point reductions remain priced in. Meanwhile, the US military is expected to intensify strikes on Iran, potentially targeting missile production facilities, drones, and naval assets. A senior Iranian official warned that vessels attempting to cross the Strait of Hormuz could be targeted, effectively halting tanker traffic amid heightened security risks.