Silver December futures opened at $64.69 per ounce on Wednesday, September 2, 2026, a decline of 1.0 percent from Tuesday's closing price. The metal slipped further in early trading, reaching $64.24 by 6:48 a.m. Eastern time, the lowest opening level in two weeks.
The move followed a second wave of US military strikes against Iran within a three day span and retaliatory action by Iranian forces against US military bases in the Middle East. The escalation marks a shift away from the economic pressure approach the United States had applied to force a peace deal and reopen the Strait of Hormuz.
Energy prices climbed alongside the fighting, with Brent crude trading near $95 a barrel. Sustained conflict and rising energy costs raise the probability that the Federal Reserve lifts rates later this month, a scenario that would place additional downward pressure on silver.
Recent performance shows how sharply the market has swung. The Wednesday opening price sat 6.7 percent below the level of one week earlier, while remaining 9.3 percent above where silver stood one month ago and 61 percent above the price of one year ago. Year over year growth reached 173.3 percent on May 14, which illustrates the scale of the rally that preceded the current pullback.
Silver carries industrial exposure alongside its role as a precious metal. Central banks and investors hold gold mainly as a store of value, while silver feeds manufacturing demand in solar panels, electronics, and medical devices. That industrial consumption widens silver's trading range and ties its price more closely to shifts in the economic outlook and to energy market conditions.
Source: Yahoo Finance - https://finance.yahoo.com/personal-finance/investing/article/silver-price-today-wednesday-september-2-2026-silver-prices-fall-further-following-second-wave-of-attacks-105910854.html