Silver prices extended a two-month downtrend during the week of October 19, 2026, breaking below $55 to test fresh 2026 lows near $54.20–$54.50 amid a firmer U.S. dollar and elevated Treasury yields. Hot September CPI and PPI prints reinforced market-implied odds of a Federal Reserve rate hike by December above 75 percent, weighing on non-yielding assets while elevated oil prices near $99–$101 amplified inflation concerns. Silver’s dual exposure to industrial demand—over 50 percent of consumption—added sensitivity to growth and borrowing-cost signals, producing sharper losses than gold. Technical indicators showed bearish momentum with RSI approaching oversold levels, while resistance clustered near $58. Key upcoming catalysts include the October 28 FOMC decision and flash PMI releases.