Silver holds above $68 an ounce, near two-month highs
Updated August 26, 2026.
VERIFIED Silver trades at $68.78 an ounce on August 26, 2026, up 0.27% from the previous session, according to Trading Economics. Over the past month it has risen 17.77%, and 78.24% over the past twelve months. Its all-time high is $121.64, reached in January 2026.
What is behind the move
HYPOTHESIS Per Trading Economics, silver is underpinned by solid industrial demand linked to the green energy transition — photovoltaic solar panels, electric vehicles, and AI data center infrastructure — and is also tracking gold's strength in what several outlets call the "debasement trade": the market's response to the US Treasury's decision to expand its buyback program for longer-dated debt, a move that already pushed the dollar to a more than three-month low last week. This is the reading circulating this week, not a fact independently verified by this site, per Trading Economics.
HYPOTHESIS Markets are also awaiting the US PCE price index — the Federal Reserve's preferred inflation gauge — and the Fed chair's speech at the Jackson Hole symposium this Friday, though he is not expected to give clear guidance on the September rate decision. Per the CME FedWatch tool, cited by the same source, markets have recently priced only a 38% probability of a Fed rate cut in September.
What this does not mean
HYPOTHESIS Silver being up 78% over the past year does not put it at an all-time high: its current level, around $69, remains nearly 43% below the $121.64 it touched in January of this same year, 2026. This is a recovery from much lower levels, not confirmation that January's peak is about to be retested.
Sources consulted on August 26, 2026: Trading Economics: Silver, price and stats, Trading Economics: Silver Steadies Ahead of US PCE Inflation Data.
Educational notice: this article is analysis based on public data, may be wrong, and is not financial advice. It is not a buy or sell recommendation. The decision and the risk are always the reader's own.