Silver price at the close of the session on July 23: Falling, under a lot of pressure

Domestic silver prices

World silver price

As of 8:00 PM, the world silver price was listed at 57.17 USD/ounce, down 1.98 USD/ounce compared to the previous day.

Silver price forecast

Silver prices continue to face downward pressure as US government bond yields rise, the USD maintains strength and crude oil prices escalate. These factors are overwhelming safe-haven demand arising from tensions between the US and Iran, while reducing the attractiveness of non-performance assets.

In the most recent session, spot silver prices at one point retreated to around 57 USD/ounce. The above developments show that short-term buying power is weakening, while cautious sentiment is increasing before the Fed's policy meeting.

New data shows that the number of initial jobless claims in the US decreased to 187,000, reflecting that the labor market has not weakened strongly. Along with rising oil prices, this information makes investors believe that the Fed may continue to maintain a cautious stance instead of soon moving to monetary easing. The yield of 10-year US bonds increased to about 4.71%, creating more pressure on gold and silver.

Although short-term prospects are still volatile, Mr. Nitesh Shah - Director of Commodity and Macroeconomic Research at WisdomTree - believes that the current correction may be necessary for the market to form a more sustainable upward cycle. According to this expert's forecast, silver prices are likely to recover to around 70 USD/ounce in Q2/2027.

The expected upward momentum no longer mainly comes from speculative sentiment like the period when silver prices exceeded 120 USD/ounce in January 2026. Instead, the outlook will depend more on the trend of gold prices, the macroeconomic environment and the balance between supply and industrial demand.

The cooling down of silver prices also helps reduce cost pressure on solar panel and electronics manufacturing industries. If prices remain in a reasonable range, industrial demand may stabilize again, thereby creating a foundation for a medium and long-term recovery process.