Silver futures opened at $62.20 per ounce on Thursday, August 6, 2026, slipping slightly from Wednesday's close but marking the metal's strongest opening level since June. The September contract eased to $61.73 by mid morning trading as investors weighed a mixed set of signals heading into the back half of the year.
Precious metals broadly moved higher this week as diplomats worked to partially reopen the Strait of Hormuz, easing some of the geopolitical risk that has weighed on global commodity markets. Silver also drew support from a weaker labor market picture. ADP reported a slowdown in private sector hiring for July, adding to expectations that the Federal Reserve could hold interest rates steady or move toward cuts later in the year.
Silver's price trajectory over the past year has been striking. The metal traded roughly 8.6 percent higher than it did one week earlier and was up close to 65 percent compared to the same date in 2025, according to Yahoo Finance data. Year over year gains peaked even higher earlier in the spring, when silver's growth rate touched above 170 percent in mid May.
Analysts continue to point to a combination of factors driving silver's run, including industrial demand tied to solar panel manufacturing, electric vehicle production, and data center buildout, alongside tight mine supply. With prices holding above the $60 mark for much of the summer, investors are watching closely whether the metal can sustain momentum through the fall trading months.