Silver Price Near $59 as Precious Metals Extend October Decline - Coinpaper

AI desk brief

Silver futures slid toward $59.16/oz on Oct. 13, down 1.63% on the day and 2.49% over two sessions, as traders positioned for Wednesday’s U.S. CPI print. The move comes amid higher Treasury yields, a stronger dollar, and renewed Fed uncertainty, all of which are pressuring non-yielding precious metals; gold weakened as well.

The article argues the longer-term silver backdrop remains tight, with the Silver Institute forecasting a sixth consecutive annual deficit in 2026. Global supply is seen rising 1.5% to about 1.05bn oz, while industrial demand is projected to fall 2% to around 650mn oz, partly due to lower silver use in solar cells, though electrical infrastructure, autos and AI-related demand offer some offset.