Silver prices rose to around $59.24 per ounce earlier today, marking a modest recovery after a sharp June decline that pushed the price of silver below $60 for the first time in months. According to Trading Economics, silver climbed to $59.18 per troy ounce on July 9, 2026, up 1.60% from the previous day as markets reassessed Federal Reserve policy.
The metal’s volatility this year reflects deep uncertainty over U.S. monetary policy. Silver prices fell 13.6% in just six trading sessions in May after April inflation reached 3.8% year over year, prompting traders to price out expected Federal Reserve rate cuts, according to Crux Investor. That pressure continued into June, when silver dropped from the $70 range to under $60 per troy ounce over a couple of weeks, the Milwaukee Journal Sentinel reported.
The silver market entered 2026 riding a wave of geopolitical risk and investment demand. Silver rose 148% in 2025, driven by safe-haven buying and industrial demand. Early 2026 saw silver reach a nominal all-time high of $121.67 in late January, but that peak unwound as geopolitical tensions eased and the Federal Reserve’s rate path remained uncertain, according to analysis from Crux Investor.
Underlying the price swings is a structural supply shortage. The Silver Institute forecasts a silver deficit of approximately 67 million ounces in 2026, with physical inventory depletion expected to provide medium-term support for prices. That supply tightness is one reason analysts remain constructive on longer-term silver prospects despite near-term volatility.
J.P. Morgan Global Research expects silver prices to average $81 per ounce in 2026, more than double the 2025 average. Yahoo Finance reported in late June that experts predict silver will surpass $80 per ounce by year-end 2026 and could reach $100 per ounce by 2030. The near-term direction, however, hinges on how the Federal Reserve navigates inflation and whether it signals rate cuts or hikes in coming months.
Sources
- Trading Economics — confirmed silver rose to $59.18 USD/troy ounce on July 9, 2026, up 1.60% from the previous day
- FXStreet — reported silver trading at $59.17 per troy ounce on July 9, 2026
- Milwaukee Journal Sentinel — reported silver dropped from the $70 range to under $60 per troy ounce over a couple of weeks in June 2026
- Crux Investor — detailed silver’s 13.6% decline in May and the unwinding of the January peak due to geopolitical risk easing
- Silver Institute — forecasted a silver shortage of approximately 67 million ounces in 2026
- J.P. Morgan Global Research — projects silver prices to average $81/oz in 2026, more than double 2025’s average
- Yahoo Finance — reported expert predictions for silver to surpass $80 per ounce by year-end 2026 and reach $100 by 2030
