Silver retreated from its recent highs in mid-July 2026, trading at 56.11 dollars per troy ounce on July 16 after a decline of nearly 3 percent on the day, and the metal was on track to lose more than 7 percent for the week. Higher energy prices and expectations that the Federal Reserve will hold policy tighter for longer weighed on precious metals, with traders pricing in roughly even odds of a September rate move.
The pullback follows a powerful run. Silver has gained more than 150 percent over the past year and reached decade-high levels before the recent give-back, a move that has lifted the earnings of U.S.-listed miners. First Majestic Silver, one of the purest silver plays in the sector, drew about 66 percent of its 2026 revenue from the metal and posted record first-quarter revenue of 477 million dollars, up 95 percent, on a 26 percent increase in silver production. The company reported record operating cash flow of 311 million dollars, up 182 percent.
Investor demand for physical exposure has stayed firm. The iShares Silver Trust, the largest exchange-traded fund holding physical silver, carried close to 28.6 billion dollars in assets and about 480.3 million ounces as of July 2026.
Analysts note that silver remains more volatile than most assets, and the sharp weekly decline underscores how quickly sentiment can swing. The metal draws support from both investment demand and industrial use, which leaves its price sensitive to interest rate expectations and to shifts in manufacturing activity.
Source: The Motley Fool - https://www.fool.com/investing/stock-market/market-sectors/materials/silver-stocks/