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Silver (SI=F) December futures opened at $66.44 per ounce on Wednesday, September 9, 2026, down 0.8% from Tuesday's closing price. Silver prices rose slightly this morning, reaching $66.94 as of 6:48 a.m. ET.
Just like last week at this time, precious metal prices are struggling to hold onto recent gains as military actions between the U.S. and Iran ramp up across the Middle East.
Just one week from now, the Fed will close out its two-day meeting, where many expect the committee to raise interest rates to battle rising costs, particularly energy costs driven by the war with Iran.
Should the Fed raise rates next week, silver prices will likely moderate further since precious metals do not pay interest.