The US silver price today moved lower again as COMEX futures extended their losing streak to a fifth straight session, with front-month silver settling at $79.53 per ounce. The latest decline kept pressure firmly on the metal after an intense multi-day retreat that has now wiped out more than 10.7% over the last five trading sessions alone, turning what began as a pullback into one of the sharpest short-term reversals silver has seen in nearly a year.
March silver futures on COMEX closed down 73.30 cents, or 0.91%, at $79.530 per troy ounce. That settlement marked the metal’s lowest closing level since February 19, 2026 and its longest losing streak since March 22, 2024, when silver also fell for five straight sessions. Over those five sessions, silver has now lost $9.553 per ounce, showing just how quickly bullish momentum has faded after the powerful rally that dominated earlier this year.
The scale of the retreat looks even more striking when placed against silver’s earlier highs. The metal is now down 30.89% from its 52-week high and record settlement high of $115.08, reached on January 26, 2026. Even so, the bigger trend still tells a different story. Silver remains up 173.15% from its 52-week low of $29.116, recorded on April 4, 2025, and is still higher by 130% compared with the same point a year ago. On a year-to-date basis, silver is up $9.396, or 13.40%, even after this week’s heavy selling.
This contrast explains why traders are paying such close attention to the current move. The recent selloff is severe, with silver now down 14.19% month to date, but it is happening after an extraordinary run that had already priced in a huge amount of optimism. In practical terms, the market is trying to decide whether this is a healthy reset after an overheated rally or the start of a deeper repricing tied to changing expectations on inflation, interest rates, and global growth.
Fed expectations are shaping the silver trade
The biggest immediate driver remains the Federal Reserve meeting. Traders broadly expect the Fed to leave rates unchanged, but the market is far more focused on the message around that decision than the decision itself. Expectations for any future easing have become more fragile, and silver is particularly sensitive to that shift because it is a non-yielding asset. When investors believe interest rates may stay elevated for longer, the appeal of holding precious metals tends to weaken.
The market commentary around Tuesday’s move made that clear. Analysts pointed to the Fed’s upcoming guidance, comments, and economic projections as the critical factors for precious metals. A cautious tone from policymakers could reinforce the idea that rate cuts will not come quickly, keeping pressure on silver and gold. That cautious tone is being shaped by another market force that has moved back into focus: energy prices.
Oil has become a major part of the silver story this week. With Brent crude holding above $100 a barrel, inflation concerns have risen again. That matters because higher oil prices can keep broader inflation sticky, making central banks more reluctant to loosen policy. For silver, that creates a difficult backdrop. The metal tends to perform best when monetary conditions are easing and investors are looking for inflation hedges without the drag of higher real rates. Right now, the opposite pressure is dominating.
Gold stayed firmer, highlighting silver’s added volatility
Gold told a different story. Front-month COMEX gold settled 0.14% higher at $5,001.00 per ounce, rising $7.00 on the day and snapping a four-session losing streak. Gold is still down 4.39% month to date, but it remains up $675.40, or 15.61%, so far in 2026. It is also 64.77% above where it stood 52 weeks ago. That relative resilience suggests that investors are still willing to stay in precious metals, but are favoring gold’s defensive safe-haven profile over silver’s more volatile and growth-sensitive character.
Gold’s current settlement also offers some useful perspective for silver traders. Even after Tuesday’s small recovery, gold remains 5.97% below its record and 2026 high of $5,318.40, reached on January 29, 2026. Silver, by comparison, has fallen much further from its peak. That wider gap underlines how aggressively silver has been sold during this round of liquidation.
Earlier in the session, silver had shown signs of holding up better, with futures trading around $81.05 per ounce in morning action. But as the day progressed, the market lost that support and sellers regained control. The close below the $80 mark matters psychologically as well as technically. Round-number breaks often influence sentiment, and silver’s failure to stay above that level may keep short-term traders cautious heading into the Fed decision.
Silver’s recent slide is steep, but the longer trend is not gone
Even with the current weakness, silver is still 12.72% above its 2026 settlement low of $70.556, set on January 2, 2026. That detail matters because it shows that the entire rally has not been erased. Instead, the market has moved from a phase of aggressive upside momentum into one of repricing and hesitation. The earlier surge toward $115 made silver one of the hottest trades in the commodity space. Now the same market is being forced to adapt to a more difficult macro backdrop.
There is also a wider commodity-market backdrop worth noting. Base metals traded mixed after the London Metal Exchange resumed electronic trading following a technical outage, while supply worries in the Middle East continued to keep traders alert across the metals complex. That broader uncertainty has fed into an already nervous market tone, especially in assets that had become crowded trades.
For now, the US silver price today reflects a market caught between strong long-term gains and a sharp short-term reset. Silver has fallen for five straight sessions, lost nearly 11% in that span, and slipped to its lowest settlement in nearly a month. It remains well above last year’s lows, but the momentum has clearly turned cautious. Unless the Fed delivers a softer-than-expected signal or inflation concerns cool meaningfully, silver may remain under pressure as traders look for the next stable level after this fast COMEX-driven pullback.
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