Silver (SI=F) September futures opened at $59.26 per ounce on Friday, July 31, 2026, up 0.4% from Thursday’s closing price. The silver price moved lower this morning, falling to $57.94 as of 8:37 a.m. ET.
After a strong opening above $59 this morning, which bookended a week in which Monday also opened above $59, the price of silver quickly lost steam, falling below $58.
There hasn’t been much positive momentum in the markets for silver as of late, with waning industrial demand, rising energy prices as a result of the war, and plenty of investor interest elsewhere. Despite these numerous headwinds, the price of silver this morning has still managed to be significantly higher than last year at this time.
Current price of silver
The opening price of silver futures on Friday, July 31, 2026, was 0.4% lower compared to Thursday’s closing price. Here’s how today’s opening silver price has changed versus last week, month, and year:
One week ago: +1%
One month ago: +1.6%
One year ago: +60.9%
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.
Want to learn more about the current top-performing companies in the silver industry? Explore a list of the top-performing companies using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.
Investing in silver? Here’s how to avoid taxes.
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%).
Spoiler: It doesn’t.
The 28% collectible tax trap
The IRS classifies physical precious metals — including bars, rounds, and coins — as collectibles. That classification changes the tax math in a big way.
Short-term gains
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%.
Long-term gains
If you hold silver for more than one year, your gain is taxed at your ordinary income rate — but no more than 28%.
Here’s what that looks like in real life:
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.
That difference adds up quickly when you’re talking five- or six-figure gains.
Learn more: How to avoid taxes when investing in silver
Price of silver chart
Whether you’re tracking the price of silver since last month or last year, the price-of-silver chart below shows the precious metal’s value journey so far this year.
More silver coverage from the Yahoo Finance team:
