Silver (SI=F) December futures opened at $67.63 per ounce on Friday, September 4, 2026, down 0.1% from Thursday's closing price. Prices held steady through the morning, reaching $67.45 as of 6:59 a.m. ET.

The metal opened at its highest level of the week, with attention focused on the August jobs report and recent comments from a Federal Reserve governor signaling willingness to hold rates steady later this month. Silver, like gold, tends to be sensitive to interest rate expectations: lower or steady rates reduce the opportunity cost of holding non-yielding assets, which is one reason Fed policy decisions are closely watched by metals traders.

Jobs Report in Focus

Economists expect the U.S. economy added 55,000 jobs in August, which would mark a rebound from the decline in job growth recorded in July. Data released earlier in the week suggests the labor market remains in a holding pattern of minimal but stable job growth. The monthly jobs report, released by the Bureau of Labor Statistics, is one of the most market-moving U.S. economic indicators because it feeds directly into the Federal Reserve's assessment of the economy ahead of its policy meetings.

Earlier this week, Fed Governor Chris Waller said he is open to holding rates steady if next week's inflation report shows price gains are easing. That places the spotlight squarely on Friday's jobs numbers and the upcoming inflation report.

If the Fed holds rates steady later this month, silver prices could continue to rise, according to the original report.

Current Price of Silver

The opening price of silver futures on Friday, September 4, 2026, was 0.1% lower than Thursday's close. Compared with today's opening price:

• One week ago: -2.5%
• One month ago: +16.4%
• One year ago: +64.8%

For context, silver's year-over-year growth stood at 173.3% on May 14. The pace of that gain has moderated since mid-May, though the metal still trades far above its year-ago level — a move that has drawn comparisons to silver's historic 1979–1980 and 2011 rallies, when prices also surged sharply over a short period before experiencing notable volatility.

Silver prices can be tracked on Yahoo Finance 24 hours a day, seven days a week. Investors can also research top-performing companies in the silver industry using the Yahoo Finance Screener, which allows custom screens with more than 150 criteria.

Investing in Silver? Here's How Taxes Work

Do you have to pay taxes on silver? Yes. Silver is a capital asset, so when it is sold for more than the purchase price, the gain is taxable and reported on Schedule D of the federal return.

Many investors assume that holding silver for more than a year qualifies them for the same long-term capital gains rates that apply to stocks (0%, 15%, or 20%). It does not.

The 28% Collectible Tax Trap

The IRS classifies physical precious metals — including bars, rounds, and coins — as collectibles. That classification changes the tax treatment significantly. Given silver's outsized gains over the past year, that distinction has become especially consequential for investors sitting on large profits.

Short-Term Gains

If silver is held for one year or less, the profit is taxed as ordinary income. Depending on the investor's tax bracket, that could be as high as 37%.

Long-Term Gains

If silver is held for more than one year, the gain is taxed at the investor's ordinary income rate — but capped at 28%.

In practice:

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

A middle-income earner accustomed to paying 15% on stock gains could therefore pay more on silver — perhaps 22% or 24%, depending on adjusted gross income. For those in the top brackets, the 28% cap is technically a discount versus 35% or 37%, but it remains above the 20% maximum long-term capital gains rate on stocks. That difference compounds quickly on five- or six-figure gains.

Further guidance is available in Yahoo Finance's article on how to avoid taxes when investing in silver.

Price Context

The precious metal's price trajectory so far this year can be followed through silver futures (SI=F) on Yahoo Finance. Beyond Friday's jobs data, the next key milestone for markets is the inflation report due next week, which Fed Governor Waller cited as a factor in his willingness to hold rates steady.

Additional Silver Coverage

• Silver price predictions: What can investors expect over the next 10 years? — What's driving silver's price increases and expert forecasts for 2026 and beyond.
• How to invest in silver in 5 steps — Available investment options, the risks, and where to buy silver.
• Silver price volatility: What to know and how to invest in 2026 — Silver prices have more than tripled over the past year despite the recent sell-off.
• Investing in silver or other metals? Here's how to avoid taxes. — The IRS treats silver as a collectible, not a stock; how taxes work and how to legally reduce what you owe.
• Why is silver outperforming gold? What to know before you invest. — Silver prices have risen more than 100% year to date; experts weigh in on the record highs.
• Silver vs. gold: Which metal made investors more money in the last 50 years? — How the two precious metals compare on long-term returns.
• 5 ways to invest in silver for beginners
• 3 predictions about silver prices in the next decade

Source: Yahoo Finance