Silver: XAG Set for 3% Monthly Gain.

Silver rose to $76 an ounce on Friday and was on track for an over 3% monthly gain, as investors balanced reports of a potential US-Iran ceasefire extension against persistent inflation concerns and expectations of prolonged higher interest rates. Negotiations to end the three-month war continued, with reports of a tentative 60-day ceasefire extension awaiting President Trump’s approval. However, disruptions to shipping and energy infrastructure could keep oil prices elevated, maintaining the Federal Reserve’s cautious stance. US inflation data this month showed the fastest rise in three years in April, reinforcing expectations that the Fed will keep rates unchanged well into 2027. UBS recently revised down its silver supply deficit forecast to 60–70 million ounces from 300 million ounces and cut its full-year investment demand outlook to 300 million ounces from over 400 million ounces.