Silver prices opened lower on Tuesday, September 15, 2026, as traders braced for the Federal Reserve’s two-day rate-setting meeting. The December futures contract opened at $63.76 per ounce, down 0.6% from Monday’s close, and slipped further to $63.60 as of 7:15 a.m. ET.
The move comes ahead of a meeting that is widely expected to end with higher borrowing costs. According to the CME Group’s FedWatch tool, there is now a 92.5% chance the Fed will raise rates after the meeting concludes tomorrow afternoon. That probability rose sharply from yesterday’s 86.5%, and from 69.4% just last Friday.
The Numbers Behind the Move
Silver’s recent performance has been mixed. The opening price of silver futures on Tuesday was 0.6% lower compared to Monday’s closing price. For context, here is how today’s opening silver price compares to where it stood one week ago, one month ago, and one year ago:
| Period | Price Change |
|---|---|
| One week ago | -3.4% |
| One month ago | -1.9% |
| One year ago | +51.1% |
That year-over-year growth was even stronger earlier this year. On May 14, silver’s year-over-year growth was 173.3%.
Why the Fed Meeting Matters Now
The timing of the rate decision is the immediate driver. The Fed’s two-day meeting begins later today, and the committee is expected to conclude its deliberations tomorrow afternoon. Traders are pricing in a near-certain rate hike, which could weigh on silver prices in the near term.
A higher federal funds rate typically makes holding non-yielding assets like silver less attractive, especially when interest-bearing alternatives become more competitive. The market’s odds-on bet on a hike suggests the expectation is baked into current pricing.
The Long-Term Silver Story
Not everyone sees a grim picture for silver. Some analysts and institutions remain bullish on the metal’s prospects over the coming decade. BlackRock and J.P. Morgan both agree that the outlook for silver remains strong, and its price will increase.
By the end of 2026, experts predict silver’s price will surpass $80 per ounce. They also see a path to $100 per ounce by 2030. Those figures come from the same experts who note that predictions can change at any time.
Why Investors Are Turning to Silver Coins
The geopolitical landscape is pushing some investors toward physical silver. With the conflict in the Middle East, investors are increasingly concerned about economic turmoil and manufacturing supply chain disruptions. Historically, that concern has driven demand for precious metals, including silver.
Buying an ounce of gold is prohibitively expensive for many new investors. Silver coins or bars offer a more accessible entry point, which could drive increased demand. The idea is simple: if gold is too costly, silver becomes the cheaper alternative for those looking to hedge.
Volatility Is Part of the Package
Silver’s price history shows why caution is warranted. Compared to gold, silver’s price tends to be more volatile, with more rises and falls. Its price fluctuates due to changes in industrial demand and investor confidence.
Consider the recent swing. At the beginning of January 2026, silver’s price topped $113 per ounce. By February, its price dropped to $77 per ounce, a decrease of about 32% in just a few weeks. That kind of movement is why silver is often described as a riskier play than gold.
What Investors Should Watch Next
The coming days will test the market’s assumptions. If the Fed raises rates as expected, silver may face further pressure in the near term. The path to $80 by year-end and $100 by 2030 is still on the table, but it requires navigating a tighter monetary environment.
Traders can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week. The Yahoo Finance Screener also lets investors explore the top-performing companies in the silver industry, with over 150 screening criteria available.
Our Take on the Silver Outlook
The market’s near-certainty on a Fed hike means silver faces a tough short-term environment. The odds-on bet on a rate increase is already reflected in current prices.
The long-term bulls have their arguments. Strong institutional agreement on silver’s fundamentals, combined with the coin-as-hedge narrative, suggests the metal has supporters. But the volatility lesson from January to February is real: silver moves fast in both directions.
The prudent investor watches the Fed decision closely on Wednesday. A hike is almost assured. Beyond that, the path to $100 by 2030 remains a prediction, not a guarantee.
Silver prices today sit below $64. Whether they stay there depends on what the Fed decides tomorrow.
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