Silver Down About 10% on the Week

2026-06-26 13:24 By Joana Taborda 1 min. read

Silver rose above $58 per ounce on Friday but remained down nearly 10% for the week, extending the losses recorded in the previous week, as the Fed's hawkish stance continued to support the US dollar.

New Fed Chair Warsh reaffirmed the central bank's commitment to bringing inflation under control, easing concerns that he might bow to pressure from US President Trump to cut interest rates prematurely.

The Fed also raised its 2026 PCE inflation projections, while the headline PCE inflation rate accelerated to 4.1% in May.

Markets are now pricing in three Fed rate hikes this year, with the probability of the first increase in September standing at around 62%.

Silver has broadly tracked the weakness across precious metals but has underperformed gold since the outbreak of the Iran war, losing roughly half its value since reaching a record high in January.

Silver is also an industrial metal, making it more sensitive to changes in investors' risk appetite and expectations for global growth.



News Stream
Silver Down About 10% on the Week
Silver rose above $58 per ounce on Friday but remained down nearly 10% for the week, extending the losses recorded in the previous week, as the Fed's hawkish stance continued to support the US dollar. New Fed Chair Warsh reaffirmed the central bank's commitment to bringing inflation under control, easing concerns that he might bow to pressure from US President Trump to cut interest rates prematurely. The Fed also raised its 2026 PCE inflation projections, while the headline PCE inflation rate accelerated to 4.1% in May. Markets are now pricing in three Fed rate hikes this year, with the probability of the first increase in September standing at around 62%. Silver has broadly tracked the weakness across precious metals but has underperformed gold since the outbreak of the Iran war, losing roughly half its value since reaching a record high in January. Silver is also an industrial metal, making it more sensitive to changes in investors' risk appetite and expectations for global growth.
2026-06-26
Silver Set for Sharp Weekly Drop
Silver dropped below $57 an ounce on Friday and was on track to lose about 14% for the week as hawkish signals from the US Federal Reserve outweighed support from the impact of US-Iran peace efforts. On Thursday, silver found some support after the latest US PCE inflation data came in broadly in line with expectations, easing fears of imminent Fed rate hikes and pushing the dollar and Treasury yields lower. Even so, markets are pricing in an 80% chance of a Fed rate hike in December following last week's hawkish pause, while the probability of a September increase stands at around 63%. Meanwhile, oil prices continued to retreat and have returned to pre-conflict levels as progress in US-Iran peace negotiations eased concerns over Middle East supply disruptions and further reduced inflation worries.
2026-06-26
Silver Approaches $59
Silver rebounded to approach $59 per ounce on Thursday, recovering from earlier losses and tracking modest gains across the precious metals complex. The metal found support from a weaker US dollar and lower Treasury yields after the latest US PCE inflation report came in broadly in line with expectations. While inflation remains well above the Fed’s 2% target, the data eased concerns about a sharper-than-expected acceleration in price pressures. Meanwhile, oil prices continued to retreat and have now returned to levels seen before the outbreak of the Iran conflict, further alleviating inflation worries. As a result, traders pared back expectations for additional monetary tightening, with the probability of a Fed rate hike in September falling to 63% from 68% the previous day. Still, silver is down about 13% year-to-date and nearly 47% below its record high reached in January, before the outbreak of the conflict with Iran.
2026-06-25