Silver prices rose on Wednesday, September 16, 2026, as traders looked ahead to a Federal Reserve meeting where a rate increase appears almost certain. The December futures opened at $64.18 per ounce, up 0.5% from Tuesday’s close, and climbed to $65.08 by 6:42 a.m. ET.
The Fed-Watch Countdown
The move comes ahead of one of the most anticipated Fed meetings in recent memory. According to the CME Group’s FedWatch tool, there is still a 92.5% chance the Fed will raise the target range for the fed funds rate by 25 basis points. That figure is the same as yesterday’s reading, and it follows a Monday reading of 86.5% and a Friday reading of 69.4%.
| Date | FedWatch Probability |
|---|---|
| Wednesday, Sept. 16 | 92.5% |
| Monday | 86.5% |
| Friday | 69.4% |
Why Interest Rates Matter
Higher rates are a headwind for precious metals. These investments do not pay interest, so they tend to lose appeal when cash earns more elsewhere. But silver’s industrial demand means its price can move on its own account.
A Year of Big Moves
Silver’s year-over-year picture has cooled from its peak. The metal gained 51.1% over the past year, compared with 173.3% on May 14. One-week and one-month figures show the recent pullback: the price fell 3.2% over the past week and 1.2% over the past month.
Silver vs. Gold
Over 50 years, gold has outperformed silver, delivering higher long-term returns. Governments and investors view gold as a store of value, and central banks hold large gold reserves to protect against global inflation or geopolitical crises. Gold is also widely used to produce jewelry.
Silver is much more abundant in supply than gold, but it also has more uses. Companies use silver to make solar panels, electronics, and medical devices. That industrial demand can drive more drastic price changes than gold’s relatively stable role.
Tracking the Price
Yahoo Finance offers 24/7 silver price tracking for anyone who wants to watch the metal hour by hour. The Yahoo Finance Screener lets investors build custom screens with over 150 criteria to find the top-performing companies in the silver industry.
What Investors Should Know
Silver’s volatility is a feature, not a bug. The metal’s price moves more than gold’s because of its industrial exposure. Traders who want to avoid taxes on metals should check the rules before investing.
Key Facts Box
- Opening price: $64.18 per ounce
- High so far: $65.08 at 6:42 a.m. ET
- Change vs. Tuesday’s close: Up 0.5%
- Fed hike probability: 92.5% via CME Group’s FedWatch
- Year-over-year gain: +51.1%
- One-week loss: -3.2%
- One-month loss: -1.2%
The Strange Logic of This Morning
The irony is that silver moved up ahead of a hike that everyone expects. The market is pricing in a rate increase that the tool now puts at nearly 93% likely.
The silver price chart shows the metal’s value journey so far this year. Whether you are tracking the price since last month or last year, the path is visible.
For now, the market is looking ahead to the meeting.
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