Silver trades near $61 per ounce in early October 2026, pressured by the 10-year Treasury yield near 5.3% and Fed officials signaling further tightening after the September 25-basis-point hike to a 3.75-4.00% target range. Recent weak September nonfarm payrolls of just 29,000 jobs have trimmed October hike odds sharply, easing some downside pressure, while the dollar remains firm. Structural support comes from projected 2026 supply deficits of roughly 46-67 million ounces, driven by solar and electronics demand that outpaces mine supply. Key near-term catalysts include the October 14 CPI release and the October 27-28 FOMC meeting, which will shape rate-path expectations and real-yield dynamics for the remainder of the month.