Silver Prices Approach $61.00 as US Interest Rate Hike Expectations Fade

Key Facts

Silver prices gained to trade near the $61.00 per ounce level on October 5, 2026. FXStreet reported that the rally is driven by declining market expectations for further Federal Reserve interest rate hikes.

The upward movement reflects silver reclaiming key psychological levels as macro sentiment shifts regarding US monetary policy. A decline in the probability of additional rate increases has reduced the opportunity cost of holding non-yielding assets, boosting demand for the white metal.