Silver Futures Retreat to $66.62 as Inflation Data Approaches

Silver (SI=F) December futures opened at $67.94 per ounce on Thursday, September 10, 2026, a 1.0% decline from Wednesday’s settlement. The contract slipped to $66.62 by 6:58 a.m. ET as traders adopted a cautious stance ahead of upcoming inflation reports.

Despite the daily decline, the $67.94 opening was the strongest start for silver futures so far this week. The early pullback reflected caution rather than a broader weekly reversal.

Investors are awaiting producer price index data on Thursday and consumer price index data on Friday, the latest inflation releases scheduled before the Federal Reserve begins its two-day policy meeting on Tuesday.

Markets currently assign a 62.2% probability that the Fed will raise interest rates next week. A rate increase could weigh on silver by supporting the dollar and raising the opportunity cost of holding a non-yielding metal.

Current silver market

Silver futures opened 1.0% lower than Wednesday’s closing price. Performance versus earlier comparison dates was as follows:

• One week: +3.6%
• One month: +6.3%
• One year: +65.2%

Silver’s year-over-year gain was 173.3% on May 14.

Silver price chart

The chart below tracks silver’s price movement through this year, providing a view of its performance over both recent and longer time horizons.

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