Silver prices hover near $60 per ounce in mid-October 2026 after retreating from a January record above $121, pressured by a firmer U.S. dollar and Treasury yields near 5% as the Federal Reserve signals caution on further policy easing or potential hikes. Recent U.S.-China trade truce developments and easing Iran-related tensions have tempered safe-haven flows, while the Silver Institute projects a sixth consecutive structural deficit of roughly 46 million ounces despite softer solar demand. Traders are focused on this week’s CPI, retail sales, and the late-October FOMC meeting for clues on the rate path, with industrial demand from AI infrastructure and electronics providing partial offset to macro headwinds.