The Hedge Book logo The Hedge Book Read smarter. Invest better.

← Back to Commodities

Covered Commodity and Power Product

Silver

SI=F · Front-month continuous futures · USD per troy ounce

Current futures price$64.39
Current price$64.39
Daily return+1.5%
Weekly return-3.2%
Monthly return-5.3%
YTD return-8.2%
Contract monthDec 26
Contract expirationUnavailable
Rollover statusProvider-managed front-month continuous series; exact rollover methodology not supplied
Contract seriesFront-month continuous futures
RegionGlobal
Price-feed statusDelayed market data enabled
UnitsUSD per troy ounce
CurrencyUSD
ProviderYahoo Finance delayed futures data
Timestamp

Historical chart

Silver historical futures price 70.2866.4862.6858.8855.082026-06-242026-07-102026-07-272026-08-102026-08-252026-09-102026-09-25 Date Futures price
2026-06-24 to 2026-09-25 · Range 55.90 to 69.47

AI-Assisted Chart Analysis

Silver technical analysis

Calculated from verified chart history for the selected tenor; no news or fundamental assumptions are used.

Technical only
Trend

Mixed trend: the latest level is below its 20-period average, without full long-term confirmation.

Momentum

RSI is 44, a neutral reading. Above 70 can signal extension; below 30 can signal exhaustion.

Support scenario

The first technical watch zone is 63.24. A break below 55.90 invalidates the near-term support setup.

Resistance scenario

The first resistance/watch zone is 67.94. A confirmed break above 69.47 supports continuation.

Risk

Annualized realized volatility is +35.3%. Maximum lookback drawdown is -9.7%, from a high-water mark of 61.92 to 55.90.

Potential levels are conditional chart scenarios, not personalized advice or instructions to buy or sell.

Current signal

  • Silver futures (front-month continuous) are trading at 64.23 USD per troy ounce, reflecting a modest decline of 0.23% in the latest session.
  • The asset is currently experiencing a broader downward trend, with a 1.89% decline over the past week and a 6.42% drop over the last month.
  • Year-to-date performance remains negative at -8.42%, indicating sustained selling pressure in the current market environment.
  • Market sentiment is currently characterized by a fade in the Hormuz risk premium and a rally in broader equity markets, which has pressured precious metals.

What changed

  • Silver prices have eased alongside gold as market participants react to a rally in stocks and the dissipation of geopolitical risk premiums related to the Strait of Hormuz.
  • Despite recent volatility, some market reports highlight a rare net-long commercial signal, suggesting potential underlying structural support despite the current price decline.
  • Mining sector activity remains active, with Silver Tiger Metals Inc. announcing an 87 million USD bought deal and Silver Mountain commencing production at its Reliquias mine.
  • The market has moved past the immediate reaction to the recent Federal Reserve rate increase, with prices showing some resilience in the face of higher borrowing costs.

Why it matters

  • The decline in silver prices, despite the rare net-long commercial signal, suggests that macroeconomic factors like equity market strength and risk-on sentiment are currently outweighing traditional safe-haven demand.
  • For industrial and mining producers, the ongoing capital raises and production commencements indicate that supply-side investment continues despite the recent price weakness.
  • The correlation between silver and broader equity market rallies highlights its sensitivity to risk appetite, potentially decoupling it from its traditional role as a hedge against inflation or geopolitical instability.
  • Investors are monitoring the interplay between rising bond yields and precious metal valuations, as higher yields typically increase the opportunity cost of holding non-yielding assets like silver.

Bullish factors

  • A rare net-long commercial signal has been identified, which historically may precede shifts in market positioning.
  • Continued investment and production expansion by mining firms, such as Silver Mountain and Silver Tiger Metals, suggest long-term confidence in asset viability.
  • Physical demand remains a topic of interest among retail investors, as evidenced by ongoing social media discussion regarding coin and bar stacking.

Bearish factors

  • The fading of the Hormuz risk premium has reduced the geopolitical tailwind that previously supported precious metal prices.
  • A rally in broader equity markets is drawing capital away from safe-haven assets, pressuring silver prices lower.
  • The year-to-date performance of -8.42% reflects a persistent downtrend that has yet to find a definitive floor.

Key catalysts

  • Future shifts in Federal Reserve interest rate policy and their impact on real yields remain the primary macro driver for precious metals.
  • Developments in the Strait of Hormuz or other geopolitical hotspots could rapidly reintroduce risk premiums if tensions escalate.
  • Updates on industrial demand, particularly from the green energy or technology sectors, are monitored as key drivers for physical silver consumption.

Key risks

  • A sustained rally in equity markets could continue to suppress demand for precious metals as investors rotate into higher-growth assets.
  • If bond yields continue to rise, the opportunity cost of holding silver may increase, leading to further liquidation of long positions.
  • Operational or financing risks within the mining sector could impact supply-side stability if companies fail to meet production or capital targets.

Upcoming reports

  • Market participants continue to monitor official inflation and central bank releases for signals on future interest rate trajectories.
  • Ongoing monitoring of CME Group settlement data and volume/open interest reports will be critical for assessing market liquidity and positioning.
  • Continued observation of mining company operational updates and production reports will provide insight into the supply-side outlook.

Latest verified updates

  • Silver Tiger Metals Inc. announced an 87 million USD bought deal, signaling continued capital market activity in the mining space.
  • Silver Mountain has officially commenced production at its Reliquias mine, adding new supply to the market.
  • Reported data confirms that gold and silver prices have eased as the Hormuz risk premium fades and stocks rally.
  • Official CME Group data confirms the current front-month continuous contract structure and provides ongoing settlement and margin updates.

Sources

Yahoo Finance delayed futures data

Last updated: