Silver Prices Drop Over 3% as US Dollar Hits New Year-to-Date Highs

Key Facts

Silver prices dropped by 3.04% to trade around $50.15 per ounce on Thursday, November 12, 2026. FXStreet reported that the decline was driven by the US Dollar Index reaching new year-to-date highs, which placed significant pressure on dollar-denominated precious metals.

The downward movement stems from market bets on further interest rate hikes by the Federal Reserve and geopolitical risks in the Middle East fueling a dollar rally. This follows recent economic data, including US inflation figures on November 10, 2026, and the release of initial jobless claims on November 12, 2026, which reached 200,000.

Market participants are looking ahead to the US Producer Price Index (PPI) release on November 13, 2026, with a monthly forecast of 0.4%. Additionally, a speech by Fed Governor Bowman is scheduled for the same day, potentially offering further clarity on monetary policy under Fed Chair Kevin Warsh.