Silver September futures opened at $58.74 an ounce on Tuesday, July 28, 2026, a gain of 0.1 percent over the Monday close, then reversed during the morning session to trade near $57.55 by 7:50 a.m. Eastern. Traders positioned ahead of a Federal Reserve meeting the same day.
The current level sits far below where silver traded at the start of the year. Prices topped $113 an ounce in early January 2026 before falling to roughly $77 an ounce by February, a drop of about 32 percent in a matter of weeks. The metal had been among the strongest performing major assets over the prior two years.
Silver responds to two separate demand streams, which distinguishes its price behavior from gold. Industrial buyers consume the metal in electronics, solar manufacturing, electric vehicle production, and the electrical infrastructure supporting artificial intelligence data centers. Investors buy it as a monetary asset. Both channels weakened during the correction, which removed the offsetting support that often cushions silver during a pullback in one category.
Manufacturing activity remains the variable market participants watch most closely. Because industrial consumption accounts for a large share of annual silver offtake, signals of slowing factory output translate quickly into price pressure.
Forecasters continue to publish 2026 average price estimates well above the current spot level, with some projecting an annual average near $107 an ounce. Those estimates vary widely across firms and were largely set before the first half decline.
Source: Yahoo Finance - https://finance.yahoo.com/personal-finance/investing/article/silver-prices-today-tuesday-july-28-2026-silver-edges-lower-ahead-of-todays-fed-meeting-120508650.html