Silver prices faced downward pressure during the week of September 28, 2026, as traders priced in heightened odds of an October Federal Reserve rate hike following the central bank's September 25-basis-point increase to the 3.75-4.00% target range. Elevated oil prices above $100 per barrel, driven by Middle East geopolitical tensions, reinforced inflation concerns and supported U.S. 10-year Treasury yields near 5.2%—their highest levels in nearly two decades—while the dollar index held above 101. These dynamics increased the opportunity cost of holding non-yielding silver, contributing to a roughly 6% weekly decline that tested the $60 level amid upcoming August PCE and September employment data releases. Industrial demand from solar and electronics sectors provided some structural support, though near-term sentiment remained sensitive to real-yield movements and any dovish shifts in Fed commentary.