Silver Hits Fresh Year-To-Date Low Tuesday Morning As Interest Rate Decision Looms
- On Friday, October 30, 2026, spot silver fell 5.7% to $49.00 an ounce, hitting a fresh year-to-date low, while spot gold dropped 3.3% to $3,890.
- Higher expected interest rates make Treasuries more attractive than non-yielding metals; the Federal Reserve held rates at 3.75% to 4.00% on October 28, with yields near 5%.
- Hourly readings of the Relative Strength Index reached 17 for gold and 15 for silver, well below the 30 level that counts as oversold, signaling extreme technical weakness.
- Managed-Money net longs have fallen to their lowest levels since the first quarter of 2024, indicating depleted speculative confidence that could fuel a rebound if inflation cools.
- VT Markets principal analyst Daniel Munday calls $50 critical support for silver's recovery, with a Fed signal of a pause offering the stronger catalyst for a trend reversal.
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Gold and silver are under increasing pressure on international markets. Both precious metals fell to the lowest level in almost a year on Friday. This is mainly due to the growing expectation that the European Central Bank could increase interest rates in December.
At 1:15 p.m. in Lisbon, the price of silver was falling 4.43%, to $49,8442 per ounce.
Silver Has Lost More Than Half Its Value Since January
Silver has shed more than half its value from a record set just nine months ago, and the forces behind the collapse show no sign of reversing. Two signals now stand between a fragile floor and a deeper breakdown.
Silver is in freefall. The precious metal's weeks-long decline pushed it to another near-year low on Friday. The market is also in an extreme situation that has not been seen in more than four years, and this could even raise the possibility of a significant turnaround.
Silver prices gave back their gains from recent months and continued their sharp decline. Ole Hansen of Saxo Bank warned that losses in the precious metal could deepen further if technical selling continues.
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