Silver prices came under intense pressure during the week of October 26, 2026, falling from the mid-$54 area early in the period to fresh year-to-date lows near $49 by October 30 amid a broad selloff in precious metals. The primary driver was the Federal Reserve’s October 28–29 policy decision, which left the federal funds target range unchanged at 3.75–4.00 percent while two officials dissented in favor of a 25-basis-point hike, reinforcing market-implied odds of roughly 80–83 percent for a December tightening. Elevated oil prices sustained inflation concerns, supporting a stronger U.S. dollar and higher Treasury yields that raised the opportunity cost of holding non-yielding assets like silver. Industrial demand worries, including potential reductions in solar-sector usage, added to the downward momentum, leaving prices vulnerable ahead of the next FOMC meeting and fresh inflation data.