Silver (SI=F) September futures opened at $61.85 per ounce on Friday, August 7, 2026, up 0.4% from Thursday's closing price. By 8:41 a.m. ET, the metal had surged to $65.05, after briefly opening slightly lower than the previous day and then climbing to levels last seen in June.

The move came as traders awaited the latest U.S. labor market data, with silver strengthening in anticipation of a strong jobs report. Minutes later, however, the Bureau of Labor Statistics reported results that were far worse than expected. Economists surveyed by Bloomberg had expected payrolls to rise by 80,000 and the unemployment rate to remain unchanged. Instead, the BLS said the U.S. economy lost 23,000 jobs in July, while the unemployment rate edged down to 4.1%.

The report mattered for more than the headline job count because labor data often shapes expectations for Federal Reserve policy and, in turn, demand for assets that traders use as hedges when uncertainty rises. There had been hopes that a strong labor market would help offset inflation concerns and encourage the Federal Reserve to keep rates unchanged next month rather than raise them.

Read more: July jobs report: Payrolls far worse than expected as the economy lost 23,000 roles

Current price of silver

The opening price of silver futures on Friday, August 7, 2026, was 0.4% higher than Thursday's close. Here is how today's opening price compares with previous periods:

• One week ago: +4.5%
• One month ago: +1.1%
• One year ago: +61.4%

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

You can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week. Investors can also use the Yahoo Finance Screener to explore top-performing companies in the silver industry and build their own screens using more than 150 screening criteria.

Investing in silver and taxes

Silver is a capital asset, so when it is sold for more than its purchase price, the gain is taxable and reported on Schedule D of a federal return.

Many investors assume that holding silver for more than a year qualifies for the same long-term capital gains treatment as stocks, which are taxed at 0%, 15% or 20%. That is not the case.

The IRS classifies physical precious metals, including bars, rounds and coins, as collectibles. That classification changes how gains are taxed.

Short-term gains

If silver is held for one year or less, profits are taxed as ordinary income. Depending on the tax bracket, that rate can be as high as 37%.

Long-term gains

If silver is held for more than one year, the gain is taxed at the ordinary income rate, but no higher than 28%.

In practice, that means:

• Taxpayers in the 10%, 12%, 22% or 24% brackets pay that same rate on silver gains.
• Taxpayers in the 32%, 35% or 37% brackets are capped at 28%.

For middle-income earners accustomed to paying 15% on stock gains, silver can result in a higher tax bill, possibly 22% or 24%, depending on adjusted gross income. For taxpayers in the top brackets, the 28% cap is lower than 35% or 37%, but it is still above the 20% maximum long-term capital gains rate that applies to stocks.

That difference can become significant on five- or six-figure gains.

Learn more: How to avoid taxes when investing in silver

More silver coverage from Yahoo Finance

• 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?
• 3 predictions about silver prices in the next decade
• Why is silver outperforming gold? What to know before you invest.
• How to invest in silver in 5 steps
• Silver price predictions: What can investors expect over the next 10 years?