Silver prices have fallen sharply, giving back much of their recent gains after failing to push through resistance near $71. Silver now finds itself close to a support region around $63 to $64. A break below that area could be a problem for the metal and may result in prices declining further, perhaps back towards the mid-$50s.
Silver recently broke an uptrend on the price chart on 31 August, with that trend having been established at the end of July. In addition, the relative strength index had also formed an uptrend, which has now been broken as well. The break in both price and momentum suggests that the bullish move seen in August may be fading, with the trend potentially shifting from bullish to bearish.
Silver price, July 2026 – present
Source: TradingView, 2 September 2026
Dollar strength has also contributed to silver’s recent weakness. Heading into the end of 2025, silver and the dollar were moving together, but that relationship shifted back to its more typical inverse pattern at the start of 2026. Continued dollar strength could therefore put additional pressure on silver.
Silver and US dollar index, December 2025 – present
