Silver (SI=F) September futures opened at $57.38 per ounce on Wednesday, July 29, 2026, down 0.3% from Tuesday’s closing price.
The silver price is holding steady this morning, reaching $57.47 as of 8:54 a.m
ET. The opening price of silver has ticked lower each day this week, but is holding steady this morning following renewed airstrikes in the Middle East and a Federal Reserve rate-setting meeting set to conclude this afternoon. Just like gold prices, silver prices are currently being pushed and pulled by opposing forces.
On the one hand, geopolitical tensions prompt investors to seek safe-haven investments in assets like precious metals when stocks and global currencies become volatile or unpredictable. On the other hand, the war in Iran has sent energy prices skyrocketing, increasing the odds the Fed will raise rates at some point this year. According to the CME Group’s FedWatch tool, there is currently a 64.2% chance the Fed will hold rates steady this afternoon, and a 35.8% chance the Fed will raise rates by 25 basis points.