Silver Price Forecast: XAG/USD holds losses near $80.50 due to renewed inflation concerns

Renewed hostilities in the Strait of Hormuz pushed oil prices higher, amplifying inflation concerns and increasing the chances of further central bank rate hikes; Iran said the US breached a ceasefire and Trump confirmed the US Navy fired upon and seized an Iranian-flagged cargo ship after it failed to comply with orders Perigon signal context: impact negative, driver geopolitical.