Silver Price Prediction October 2026: Where Next? - MoneyMagpie

AI desk brief

Silver has retraced sharply from a late-January 2026 peak near $121/oz to around $60.90-$64.30/oz in early October, leaving traders focused on whether $60 holds after support at $63.10-$62.30 was broken. The piece highlights a more constructive medium-term backdrop from a projected 2026 supply deficit of 46.3Moz and rising investment demand, but near-term price action remains tied to US rate expectations and the late-October Fed meeting.

Macro headwinds remain heavy: the article cites 10-year Treasury yields near 5.3%, a firm dollar, and rising oil/geopolitical tensions as weighing on silver, while softer US inflation reduced October Fed hike odds to about 38% from 51%. On the demand side, solar use is still expected to fall, though coins and bars are forecast to rise 18%; a lower gold-silver ratio around 66.6-66.8 is presented as a relative-value support argument, but HSBC expects the ratio to widen again.