Silver prices today, Friday, July 24, 2026: Silver returns above $58 as markets price in higher rate risks

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Silver ( SI=F ) September futures opened at $57.92 per ounce on Friday, July 24, 2026 , down 0.2% from Thursday's closing price. The silver price moved higher this morning, reaching $58.87 as of 8:28 a.m. ET.

After pulling back Thursday, silver rebounded slightly Friday morning. Strength in the U.S. dollar ( DX-Y.NB ) contributed to Thursday's decline and inflation risk continues to limit any recovery for silver prices. According to CME FedWatch, the consensus for next week's rate decision is a hold — but the probability has declined to 64.2% from 87.2% last week. A better-than-expected initial jobless claims report on Thursday contributed to the sentiment change.

Since silver does not pay interest, investors tend to shift into yield-bearing assets when interest rates rise. That limits demand and silver's appreciation potential.

The opening price of silver futures on Friday, July 24, 2026 , was 0.2% lower compared to Thursday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:

For context, silver's year-over-year growth was 173.3% on May 14.

24/7 silver price tracking: Don't forget you can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

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Do you have to pay taxes on silver? Yes. Silver is a capital asset, so when you sell it for more than you paid, the gain is taxable and reported on Schedule D of your federal return.

Many investors assume holding silver for more than a year qualifies them for the same long-term capital gains rates as stocks (0%, 15% or 20%).

The IRS classifies physical precious metals — including bars, rounds, and coins — as collectibles. That classification changes the tax math in a big way.

If you hold silver for one year or less, your profit is taxed as ordinary income. Depending on your tax bracket , that could go as high as 37%.

If you hold silver for more than one year, your gain is taxed at your ordinary income rate — but no more than 28%.

If you're in the 10%, 12%, 22% or 24% bracket, your silver gain is taxed at that same rate.

If you're in the 32%, 35% or 37% bracket, you're capped at 28%.

So if you're a middle-income earner accustomed to paying 15% on stock gains, silver can cost you more, maybe 22% or 24%, depending on your adjusted gross income.

If you're in the top brackets, the 28% cap is technically a discount versus 35% or 37% — but it's still higher than the 20% max long-term capital gains rate on stocks.