Silver futures opened at $69.34 an ounce on Monday, Aug. 24, the first time the metal has traded above $69 since June 16, extending a month over month gain of 18.2%.
The move caps a stretch of persistent strength. Silver reached $68.95 on Aug. 21, with prices up 15.46% over the trailing month and up 77.24% against the same point in 2025. On Aug. 20 the metal opened higher after the US Treasury announced plans to at least double its long term debt buybacks, a step that pushed silver more than 5% higher in a single session.
Several forces have converged. Monetary policy expectations shifted after a July inflation reading came in softer than anticipated, reducing the perceived likelihood of near term rate increases. Geopolitical friction in the Middle East has sustained safe haven positioning. Persistent global inflation has kept real yield expectations under pressure.
Gold and silver have both risen more than 100% year to date, and silver has more than tripled over the past year even after periodic sell offs.
Supply and demand conditions in the physical market complicate the picture. Photovoltaic silver demand is projected to fall roughly 19% in 2026 to about 151 million ounces, down from 186.6 million ounces in 2025, the largest single year reduction on record. Solar manufacturers have been reducing silver loading per cell in response to price, which removes a demand source that had grown steadily for a decade.
Source: Yahoo Finance - https://finance.yahoo.com/personal-finance/investing/article/silver-prices-today-monday-august-24-2026-why-silver-remains-on-a-roll-up-over-18-month-over-month-124600654.html