Silver prices today, Monday, August 31, 2026: Silver opens lower as rate-hike expectations rise

Silver December futures opened lower at $66.80 per ounce on Monday, August 31, 2026, marking a 1.4% decline from the previous session's close before rebounding slightly to $67.84 in early trading. The precious metal has faced consistent downward pressure, declining steadily over the past week as markets price in increased expectations of interest rate hikes from the Federal Reserve. The negative sentiment follows hawkish commentary from Federal Reserve Chair Kevin Warsh during his Jackson Hole address, where he emphasized that inflation remains elevated and reiterated the central bank's mandate to stabilize prices. Geopolitical tensions also weighed on markets following a U.S. military strike against Iranian rocket launchers in the Strait of Hormuz, adding crosscurrents to broader risk asset and commodity pricing. Despite the recent retreat, silver has shown substantial medium-term strength. The metal remains up 12.8% over the past month and 70.6% compared to the prior year, highlighting a volatile but elevated trading regime across precious metals markets.