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Silver (SI=F) September futures opened at $58.74 per ounce on Tuesday, July 28, 2026, up 0.1% from Monday's closing price. The silver price moved lower this morning, reaching $57.55 as of 7:50 a.m. ET.

Silver hasn't opened above $61 since July 7, and like gold, has traded within a very narrow price band for much of the month. Unlike gold, silver's price is driven by two main factors: industrial demand and investor demand. Unfortunately for silver prices, both have declined.

Despite these struggles, silver prices opened 4.3% higher than last week and 54.1% higher than last year ahead of today's two-day Fed meeting.

The Fed's rate decision will come tomorrow, when, according to the CME Group's FedWatch tool, 35.8% of analysts expect the Fed to raise rates by 25 basis points, compared to over 25% last week.

Many investors are likely awaiting definitive news on the U.S. interest rate outlook before driving the metal's price up again.

The opening price of silver futures on Tuesday, July 28, 2026, was 0.1% higher compared to Monday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:

One week ago: +4.3%

One month ago: -0.8%

One year ago: +54.1%

For context, silver's year-over-year growth was 173.3% on May 14.

24/7 silver price tracking: Don't forget you can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

Want to learn more about the current top-performing companies in the silver industry? Explore a list of the top-performing companies in the silver industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Silver price forecasts vary wildly by expert. Some say silver's price will hold steady or experience modest growth, while others predict huge price spikes. Here are some of the biggest predictions for silver's price:

Experts with BlackRock and J.P. Morgan 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, and it could reach $100 per ounce by 2030.

Does that mean you should buy lots of silver? Be aware that predictions can change, and they may revise their forecasts at any time.

With the conflict in the Middle East, investors are increasingly concerned about economic turmoil and manufacturing supply chain disruptions. Historically, that means investors will increasingly buy precious metals, such as silver.

Because buying an ounce of gold is prohibitively expensive for new investors, silver coins or bars are a more accessible entry point, so there may be increased demand.

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.

For example, at the beginning of January 2026, silver's price topped $113 per ounce. But by February, its price dropped to $77 per ounce, a decrease of about 32% in just a few weeks.

Keep reading: Silver price predictions for the next decade: What should investors expect?

Whether you're tracking the price of silver since last month or last year, the price-of-silver chart below shows the precious metal's value journey so far this year.

More silver coverage from the Yahoo Finance team: 

5 ways to invest in silver for beginners

Silver price volatility: What to know and how to invest in 2026

Silver vs. gold: Which metal made investors more money in the last 50 years?

​​Gold alternatives? How to invest in silver, platinum, and palladium.

Why is silver outperforming gold? What to know before you invest.

How to invest in silver in 5 steps

Investing in silver or other metals? Here's how to avoid taxes.

How will silver's price change in 2026 and beyond? Learn what's driving silver's price increases and expert predictions.

Interested in investing in silver? Understanding available investment options, the risks, and where to buy silver is key. Here's what you need to know.

Silver prices have more than tripled over the past year despite their recent sell-off. Here’s what you should know about the metal before you invest.

Both gold and silver have surged over the past 50 years, but which precious metals delivered the higher returns? Here's how these investments compare.

Gold and silver prices have been on a tear, with silver prices increasing by more than 100% year to date. Experts weigh in on what could be causing these record highs.

Gold prices have skyrocketed in recent years, but how high can they go next? Here are the boldest predictions for how gold will perform.