Silver Price Outlook: Speculative Bubbles Ahead of Rate Hike?

The silver price has increased by over 120% year-to-date (YTD), according to GoldSilver's archives for September 2026. The Federal Reserve's rate hike, which is nearly certain at this point, is priced in at an 85-91% probability depending on the reading.

However, what isn't accounted for is the data from the Commodity Futures Trading Commission (CFTC), which shows that speculative silver longs have rebuilt to the 73rd percentile of the past 60 weeks in a falling market. This setup differs significantly from August's positioning.