Silver prices fell to around $57/oz, extending a sharp downtrend after breaking support near $70/oz, as hawkish Fed expectations strengthened the dollar and real yields, following a prior rally that peaked near $120/oz in January 2026.
Silver prices fell to approximately $57 per ounce (oz) today, extending a sharp downward trend that began after mid-June, following a prior period in which the market had repeatedly stabilized around a perceived support floor near $70/oz.
That price range held for a while and kept trading relatively stable, but once it broke, the market moved clearly lower. Selling picked up after that, leading to a steady drop in prices down toward $60/oz.
“The price drop was mainly due to renewed uncertainty with hawkish U.S. Federal Reserve’s decision continuing to push real yields and the US dollar higher, which does not favor precious metals,” Michael DiRienzo, president and chief executive officer of the Silver Institute, told pv magazine. ,
“Additionally, the Fed delivered a hawkish surprise by projecting a rate hike this year,” DiRienzo added. “There’s a 34% chance of a hike in July and a 68% probability of a move in September. Fundamentals of the silver market are strong, however, with a pickup in retail silver investment in certain regions of the world and the continuation of the 6th year of a structural market deficit.”
