Silver rose nearly 5% to $79 per ounce on Tuesday, its highest since mid-March, as progress in US-Iran negotiations pressured the dollar and pushed oil below $100 a barrel, easing inflation worries. Though weekend talks stalled and the Strait of Hormuz blockade began, US officials indicated further negotiations before the ceasefire deadline. The dollar dropped to a one-month low, and crude prices fell on hopes for a lasting deal, reducing inflation and rate hike fears. Markets now assign a nearly 30% probability to a Fed rate cut this year. Despite the rebound, silver remains nearly 20% below its pre-conflict level.