Silver (SI=F) September futures opened at $59.78 per ounce on Wednesday, August 5, 2026, down 0.8% from Tuesday’s closing price. By 8:09 a.m. ET, silver had climbed to $62.27.

Silver prices opened within the narrow range they have maintained all week, but the metal advanced in early trading and moved above the $62 mark for the first time since July 6.

President Trump said a deal to reopen the Strait of Hormuz could happen as soon as Wednesday, though it remains unclear how directly the U.S. has engaged in negotiations with Iran over the strait.

According to various news reports, progress in Hormuz discussions has involved Iran and Oman directly, along with the possibility that some European countries could help clear mines from the strait. The update matters for silver traders because geopolitical developments can quickly feed into broader commodity sentiment, especially when markets are already focused on other catalysts that may affect interest rates and demand.

With the July jobs report due on Friday, silver investors are also watching developments in the Middle East and the number of jobs added to the workforce last month. Both factors could influence future Federal Reserve rate decisions, which in turn can affect silver prices. For a metal that has both monetary and industrial demand, traders often track macro data and geopolitics side by side rather than in isolation.

Current price of silver

The opening price of silver futures on Wednesday, August 5, 2026, was 0.8% lower than Tuesday’s closing price. Here is how today’s opening silver price compares with one week, one month, and one year ago:

• One week ago: +3.3%
• One month ago: -0.5%
• One year ago: +59%

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

You can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

If you want to learn more about companies in the silver industry, Yahoo Finance also offers a screener with more than 150 screening criteria.

Silver vs. gold: Which made investors more money over the years?

Over the past 50 years, gold has outperformed silver and delivered stronger long-term returns. Since the 1970s, both metals have posted large gains, but their roles in the economy and their performance history differ.

Governments and investors often view gold as a store of value, and central banks hold substantial gold reserves to help protect economies against global inflation or geopolitical crises. Gold is also widely used in jewelry.

Silver is far more abundant than gold and has a broader range of uses. It plays an important role in manufacturing and industrial production, and companies use it in solar panels, electronics, and medical devices. Industrial demand can affect silver prices and contribute to sharper moves.

Read more: Gold vs. silver: Which had higher returns over 50 years?

Price of silver chart

Whether you are tracking silver prices over the past month or the past year, the chart below shows the metal’s performance so far this year.

(SI=F)

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
• Gold alternatives? How to invest in silver, platinum, and palladium
• Why is silver outperforming gold? What to know before you invest.
• 3 predictions about silver prices in the next decade
• How to invest in silver in 5 steps
• Investing in silver or other metals? Here's how to avoid taxes
• Silver price predictions: What can investors expect over the next 10 years?
• Gold forecast and tracker: Where will prices land in 2026?
• Silver vs. gold: Which metal made investors more money in the last 50 years?
• How to invest in silver in 5 steps