Silver trades near $60.50 per ounce as markets price elevated odds of additional Federal Reserve rate hikes by year-end, with the September CPI release on October 14 serving as the immediate catalyst. Elevated 10-year Treasury yields above 5% and a firm dollar have weighed on non-yielding assets, while silver’s industrial component faces pressure from photovoltaic substitution that is expected to trim solar demand despite a projected structural market deficit of roughly 46 million ounces. Recent price action reflects a rebound from sub-$59 support on dip-buying, but resistance clusters near the $64–$65 zone. Any hotter-than-expected inflation print could reinforce restrictive policy signals and limit upside, whereas softer data might ease yields and support a retest of higher levels.