September silver futures opened at $59.26 but fell to $57.94 amid weak industrial demand and broader market headwinds.
Silver September futures (SI=F) opened at $59.26 per ounce on July 31, 2026, a 0.4% gain from Thursday’s close, but quickly retreated to $57.94 by 8:37 a.m. ET. The metal briefly traded above $59 earlier in the session, mirroring Monday’s opening level, before losing momentum.
Year-over-year, silver remains up 60.9%, though growth has slowed from a 173.3% peak in mid-May. Weak industrial demand, rising energy costs, and shifting investor focus have weighed on prices despite the recent geopolitical pause.
The metal’s performance reflects broader market caution, with futures struggling to sustain gains despite a strong annual comparison.