Silver Soars 2.7% to $59.73 as Inflation Expectations Rise

The price of silver has risen significantly on August 4, 2026. As per the latest market data, the spot price of silver was $59.73 per ounce at 12:05 p.m. ET, a gain of $1.57 from the previous close of $58.16. This represents a 2.70% increase.

Over the past 12 months, silver prices have risen by 61.73%, with the metal trading at $36.93 per ounce on this date last year. However, it's worth noting that silver is currently trading 49.12% below its 52-week high of $117.39.

Silver prices are driven by various factors, including inflation expectations, central bank policy, global economic conditions, and investor demand. Currency strength, particularly the U.S. dollar, also plays a significant role in determining daily prices.