Silver fell more than 2% to around $57.5 an ounce on Friday, ending July down over 1% as the US dollar rebounded from a more than one-month low and expectations for tighter Federal Reserve policy outweighed support from softer US inflation data and unchanged interest rates. Markets currently see about a 65% chance of a Fed rate hike in September, with another increase expected by June 2027. While Fed Chair Kevin Warsh reaffirmed the central bank's commitment to lowering inflation without signaling an imminent hike, the three policymakers who dissented at this week's meeting reiterated on Friday that further tightening is needed. Meanwhile, renewed US strikes on Iranian targets in response to Tehran's attacks on American assets reduced hopes for a diplomatic breakthrough. Since the conflict erupted in late February, higher oil prices have fueled inflation concerns and reinforced expectations for higher interest rates, weighing on precious metals.

Silver rose to 58.42 USD/t.oz on August 2, 2026, up 1.39% from the previous day. Over the past month, Silver's price has fallen 6.38%, but it is still 56.12% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Silver reached an all time high of 121.64 in January of 2026. Silver - data, forecasts, historical chart - was last updated on August 2 of 2026.

Silver rose to 58.42 USD/t.oz on August 2, 2026, up 1.39% from the previous day. Over the past month, Silver's price has fallen 6.38%, but it is still 56.12% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Silver is expected to trade at 59.66 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 70.87 in 12 months time.



Price Day Month Year Date
Gold 4,065.33 -60.43 -1.47% -2.52% 20.48% Aug/02
Silver 58.44 -1.386 -2.35% -6.34% 56.18% Aug/02
Copper 6.52 0.0878 1.36% 5.74% 46.98% Aug/02
Steel 2,953.00 -38.00 -1.27% -3.05% -8.09% Jul/31
Lithium 143,000.00 -3000 -2.05% -10.63% 100.42% Jul/31
Platinum 1,658.70 -1.50 -0.09% 3.68% 26.00% Jul/31
Iron Ore 98.00 -0.25 -0.25% -0.37% -1.58% Jul/31


Silver
Silver is a widely traded precious metal with both industrial and investment applications. It is used extensively in electronics, solar panels, and medical technologies, while also serving as a store of value and portfolio diversification tool. As a result, silver prices are influenced by both industrial demand and investor sentiment. Silver futures and options are traded on major exchanges such as the COMEX, where they are used by mining companies, manufacturers, and investors to manage price risk. Standard futures contracts typically represent 5,000 troy ounces. On the supply side, Mexico, Peru, and China are the largest producers globally, followed by Australia, Chile, Bolivia, the United States, Poland, and Russia. Silver prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
58.42 57.62 121.64 3.53 1975 - 2026 USD/t. oz Daily

News Stream
Silver Posts Monthly Loss as Rate Hike Expectations Weigh
Silver fell more than 2% to around $57.5 an ounce on Friday, ending July down over 1% as the US dollar rebounded from a more than one-month low and expectations for tighter Federal Reserve policy outweighed support from softer US inflation data and unchanged interest rates. Markets currently see about a 65% chance of a Fed rate hike in September, with another increase expected by June 2027. While Fed Chair Kevin Warsh reaffirmed the central bank's commitment to lowering inflation without signaling an imminent hike, the three policymakers who dissented at this week's meeting reiterated on Friday that further tightening is needed. Meanwhile, renewed US strikes on Iranian targets in response to Tehran's attacks on American assets reduced hopes for a diplomatic breakthrough. Since the conflict erupted in late February, higher oil prices have fueled inflation concerns and reinforced expectations for higher interest rates, weighing on precious metals.
2026-07-31
Silver Set to End Month Little Changed
Silver fell toward $58 an ounce on Friday, snapping a two-session winning streak, but was still on track to end July little changed after a more than 20% decline in June. The precious metal found support this week after the US Federal Reserve left interest rates unchanged despite mounting inflationary pressures stemming from renewed hostilities in the Middle East. However, expectations for tighter monetary policy continued to cap gains, with markets currently pricing in about a 63% chance of a Fed rate hike in September. Meanwhile, the US military launched fresh strikes on Iranian targets in retaliation for Tehran’s attacks on US assets across the Middle East, reducing the likelihood of any near-term diplomatic agreement. Precious metals have come under constant pressure since the US-Iran war erupted in late February, as surging oil prices fueled inflation concerns and strengthened expectations for tighter monetary policy.
2026-07-31
Silver Holds Gains as Dollar Weakens
Silver traded around $59 an ounce on Friday after rising for two straight sessions, supported by a sharp decline in the US dollar as Japan is suspected to have intervened in the currency market once again to strengthen the yen. The precious metal also drew support this week after the Federal Reserve left interest rates unchanged despite mounting inflationary pressures stemming from renewed hostilities in the Middle East. However, expectations for tighter monetary policy continued to limit further gains, with markets currently pricing in about a 63% chance of a Fed rate hike in September. Meanwhile, the US military launched fresh strikes on Iranian targets in retaliation for Tehran’s attacks on US assets across the Middle East, reducing the likelihood of any near-term diplomatic agreement. Silver is also on track to end the month with a small gain after tumbling more than 20% in June.
2026-07-31