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Silver (SI=F) September futures opened at $69.35 per ounce on Friday, August 28, 2026, down 0.1% from Thursday's closing price. The silver price moved higher this morning, reaching $71.13 as of 7:57 a.m. ET.
Silver prices have been in a holding pattern this week as investors digested inflation news that was largely within expectations, and as they prepare for Fed Chair Kevin Warsh to take the stage at the Fed's Jackson Hole summit today.
Warsh's upcoming address comes at a pivotal time when just about every investor is seeking clues as to what the Fed will do with interest rates next month. The committee is clearly divided on the right next move — higher rates or steady rates.
Warsh has been a bit of an untraditional chairman so far, adding to the anticipation of today's speech and whether we'll get any further indication of where rates might be headed.
The opening price of silver futures on Friday, August 28, 2026, was 0.1% lower compared to Thursday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:
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.
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%).
The IRS classifies physical precious metals — including bars, rounds, and coins — as collectibles. That classification changes the tax math in a big way.
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%.
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:
