Silver prices fall 4% on tighter U.S. Fed expectations

Global silver prices dropped more than 4% in a week, with the spot price closing at $59.8 per ounce, down 4.07% from the previous week. COMEX futures for September 2026 slipped 1.86% to $60.3 per ounce, while Shanghai exchanges saw a near‑4% decline.

In Vietnam, the Phú Quý silver price mirrored the international move, ending the week around 60.2‑62.1 million VND per kilogram, roughly a 3.9% weekly drop. Analysts attribute the decline to shifting expectations that the U.S. Federal Reserve may keep interest rates higher for longer, boosting the dollar and U.S. Treasury yields, which raise the opportunity cost of holding non‑yielding assets like precious metals. Geopolitical tension between the United States and Iran also lifted oil prices, reinforcing inflation concerns that support a hawkish Fed stance.

Inventory data show divergent trends: COMEX inventories rose by about 107 tons to roughly 10,159 tons, while the Shanghai Futures Exchange saw a 4.9‑ton decline, leaving about 830 tons on hand. Upcoming U.S. economic releases—June CPI on July 14, June PPI on July 15, and a Fed governor’s congressional testimony—are expected to further shape short‑term silver price direction.