Silver Price Hits 2026 Low. Will It Crash Further?

Silver closed Friday at $53.83, down nearly 56% from its record $121.74 and its weakest finish of 2026, as traders prepared for further losses. The decline began after January’s speculative rally reversed amid higher futures margin requirements and forced selling; surging oil prices threaten inflation and higher U.S. rates, making non-interest-paying silver less attractive. Hedge funds and commodity trading advisers sold $2.2 billion of silver futures in the three weeks to Oct. 13, and the three-month put-call skew rose 10 points in four weeks to minus 3, indicating traders bought protection against declines. India authorized 6,500 metric tons of silver imports before its festive season, but buyers stayed hesitant and local premiums fell from $2.50 to 45 cents an ounce.