Silver Futures Hold Above $65, Up 70.2% Year-Over-Year, as Markets Await PPI Report
Key Takeaways
- •Silver September futures opened at $65.46 per ounce on August 13, 2026, representing a 0.4% decline from the previous session's closing price of $65.70.
- •The precious metal has recorded a 70.2% year-over-year price increase, down from a peak of 173.3% annual growth observed on May 14, 2026.
- •Yahoo Finance correspondent Jennifer Schonberger stated that back-to-back months of cooling inflation make a Federal Reserve rate hike in September difficult to justify.
- •The Producer Price Index report released on August 13 is expected to provide additional clarity on the Federal Reserve's upcoming September policy decision.
- •Unlike gold, silver's price is driven by both investment demand and industrial consumption in solar photovoltaic panels, electronics, and automotive components.
Silver (SI=F) September futures opened at $65.46 per ounce on Thursday, August 13, 2026, down 0.4% from Wednesday's closing price of $65.70. Prices inched lower in early trading, dipping to $65.23 as of 8:11 a.m. ET.
With opening prices back above $65, the precious metal's year-over-year gains stand at 70.2% heading into this morning's Producer Price Index (PPI) report. The PPI data is expected to serve as a key signal for the Federal Reserve's next policy move following its rate-setting meeting in September. Precious metals, which do not yield interest, have historically drawn investor interest during periods when rate-hike expectations ease, as lower expected rates reduce the opportunity cost of holding non-yielding assets.
Fed Policy Outlook
Yahoo Finance Fed Correspondent Jennifer Schonberger noted that Wednesday's cooling Consumer Price Index (CPI) report strengthens the argument for the Federal Reserve to maintain its current stance. "It bolsters the case for the Federal Reserve to wait. It's hard to see them hiking in September now that we've had two back-to-back months of cooling inflation," Schonberger said.
She added that today's PPI report, combined with the July employment and CPI data, will help provide a clearer picture for September. "I think there's still question marks about what's going to happen in September based on what we see on PCE numbers, … but at this point it's hard to see them hiking based on the data we have right now."
Silver Price Comparisons
Thursday's opening silver price of $65.46 was 0.4% lower than Wednesday's close. Here is how the opening price compares across recent timeframes:
- One week ago: +5.7%
- One month ago: +11.1%
- One year ago: +70.2%
For additional context, silver's year-over-year growth stood at 173.3% on May 14, 2026. The moderation from that peak reflects price consolidation over the intervening three months rather than a reversal of the broader upward trend.
Broader Precious Metals Demand
Precious metals remain in high demand. While gold has historically dominated investor attention, silver, platinum, and palladium are increasingly being used as portfolio diversifiers. Unlike gold, silver also carries significant industrial demand drivers — the metal is a critical input in solar photovoltaic panels, electronics, and automotive components — which means its price is influenced by both investment flows and manufacturing sector activity. Investors considering these metals typically evaluate growth drivers, ownership options, and portfolio allocation strategies before entering the market.
