Silver prices today, Tuesday, July 28, 2026: Silver edges lower ahead of today's Fed meeting

Silver (SI=F) September futures opened at $58.74 per ounce on Tuesday, July 28, 2026, up 0.1% from Monday's closing price. The silver price moved lower this morning, reaching $57.55 as of 7:50 a.m. ET.

Silver hasn't opened above $61 since July 7, and like gold, has traded within a very narrow price band for much of the month. Unlike gold, silver's price is driven by two main factors: industrial demand and investor demand. Unfortunately for silver prices, both have declined.

Despite these struggles, silver prices opened 4.3% higher than last week and 54.1% higher than last year ahead of today's two-day Fed meeting.

The Fed's rate decision will come tomorrow, when, according to the CME Group's FedWatch tool, 35.8% of analysts expect the Fed to raise rates by 25 basis points, compared to over 25% last week.

Many investors are likely awaiting definitive news on the U.S. interest rate outlook before driving the metal's price up again.

Current price of silver

The opening price of silver futures on Tuesday, July 28, 2026, was 0.1% higher compared to Monday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:

• One week ago: +4.3%

• One month ago: -0.8%

• One year ago: +54.1%

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

24/7 silver price tracking: Don't forget you can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

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Silver price predictions for the next decade

Silver price forecasts vary wildly by expert. Some say silver's price will hold steady or experience modest growth, while others predict huge price spikes. Here are some of the biggest predictions for silver's price:

1. Silver reaches $100 per ounce

Experts with BlackRock and J.P. Morgan agree that the outlook for silver remains strong, and 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.

Does that mean you should buy lots of silver? Be aware that predictions can change, and they may revise their forecasts at any time.

2. Silver coins become more popular

With the conflict in the Middle East, investors are increasingly concerned about economic turmoil and manufacturing supply chain disruptions. Historically, that means investors will increasingly buy precious metals, such as silver.

Because buying an ounce of gold is prohibitively expensive for new investors, silver coins or bars are a more accessible entry point, so there may be increased demand.

3. Pricing may be more volatile

Compared to gold, silver's price tends to be more volatile, with more rises and falls. Its price fluctuates due to changes in industrial demand and investor confidence.

For example, at the beginning of January 2026, silver's price topped $113 per ounce. But by February, its price dropped to $77 per ounce, a decrease of about 32% in just a few weeks.

Keep reading: Silver price predictions for the next decade: What should investors expect?

Price of silver chart

Whether you're tracking the price of silver since last month or last year, the price-of-silver chart below shows the precious metal's value journey so far this year.

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

• Silver vs. gold: Which metal made investors more money in the last 50 years?

• ​​Gold alternatives? How to invest in silver, platinum, and palladium.

• Why is silver outperforming gold? What to know before you invest.

• How to invest in silver in 5 steps

• Investing in silver or other metals? Here's how to avoid taxes.