Silver Holds Above $66 as U.S.–Iran Conflict Keeps Oil Near $100 Ahead of Fed Meeting
Key Takeaways
- •Silver December futures opened at $66.82 per ounce on September 8, 2026, up 0.1% from the previous close, and stood at $66.53 as of 8:08 a.m. ET.
- •U.S.-Iran attacks have pushed oil near $100 a barrel, raising inflation concerns one week before the Federal Reserve's rate-setting meeting beginning September 15.
- •Markets currently price in roughly a 60% chance that the Fed will raise rates at next Wednesday's meeting, which traditionally pressures precious metal prices.
- •Silver's opening price is up 5.0% from one month ago and 62.4% from one year ago, after year-over-year growth peaked at 173.3% on May 14.
- •Experts at BlackRock and J.P. Morgan project silver above $80 per ounce by end-2026 and potentially $100 by 2030, despite the metal's history of sharp volatility, including a roughly 32% drop from January to February 2026.
Silver (SI=F) December futures opened at $66.82 per ounce on Tuesday, September 8, 2026, up 0.1% from Friday's closing price. Prices held firm through the morning, reaching $66.53 as of 8:08 a.m. ET.
The backdrop remains dominated by geopolitics. Continued back-and-forth attacks between the U.S. and Iran have pushed oil prices (BZ=F) back near $100 a barrel, heightening inflation concerns just one week before the Federal Reserve's rate-setting meeting, which begins September 15. The combination pulls silver in two directions at once: geopolitical tension tends to lift demand for precious metals as safe-haven assets, while the prospect of higher interest rates — which raise the opportunity cost of holding non-yielding assets — traditionally weighs on them.
Tuesday's opening price came in below Friday's opening level but was generally in line with silver's opening prices from last week.
Investors and the FOMC committee will get their final look at the latest available inflation data at the end of this week. Markets currently price in roughly a 60% chance that the Fed will raise rates next Wednesday. Higher rates are traditionally a headwind for precious metal prices. Beyond its role as a monetary metal, silver is also an industrial commodity used in electronics and solar-panel manufacturing, which is why investors are watching Middle East supply chain disruption risks alongside the inflation data.
Current price of silver
The opening price of silver futures on Tuesday, September 8, 2026, was 0.1% higher compared to Monday's closing price. Here is how today's opening silver price has changed versus prior periods:
- One week ago: +0.5%
- One month ago: +5.0%
- One year ago: +62.4%
For context, silver's year-over-year growth stood at 173.3% on May 14.
Silver prices can be tracked 24 hours a day, seven days a week, on Yahoo Finance (SI=F).
Silver price predictions for the next decade
Silver price forecasts vary widely among experts. Some expect silver's price to hold steady or post modest growth, while others predict sharp price spikes. Among the biggest predictions:
1. Silver reaches $100 per ounce
Experts at BlackRock and J.P. Morgan agree that the outlook for silver remains strong and that 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. Forecasters may revise their projections at any time, however, as conditions change.
2. Silver coins become more popular
With the conflict in the Middle East ongoing, investors are increasingly concerned about economic turmoil and manufacturing supply chain disruptions. Historically, such conditions lead investors to buy more precious metals such as silver. Because buying an ounce of gold is prohibitively expensive for many new investors, silver coins or bars are a more accessible entry point, which may support increased demand.
3. Pricing may be more volatile
Compared to gold, silver's price tends to be more volatile, with larger rises and falls. Its price fluctuates with changes in industrial demand and investor confidence. For example, at the beginning of January 2026, silver's price topped $113 per ounce. By February, it had dropped to $77 per ounce — a decline of about 32% in just a few weeks.
For further detail, see: Silver price predictions for the next decade: What should investors expect?
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