BREAKING: Silver plunges more than 3%

Silver extended losses below the key psychological level of $24.00 per ounce on Tuesday, the lowest level since the beginning of the month and following a 2% drop the day before, as Federal Reserve chairman Jerome Powell’s reappointment pushed the dollar to fresh 16-month highs and bond yields closer to 1-month highs. Powell's re-appointment is a sign the central bank will continue its tightening plans and raise expectations of a sooner interest rate increase, which does not support precious metals prices.

Technically looking at the D1 interval, silver remains under pressure during today's session. The price reached the support at $ 23.55, which we wrote about yesterday, but so far the buyers remain passive, which may indicate a chance for deeper declines. If the current sentiment prevails, a move towards the $ 23.00 level is possible, which is marked with previous price reactions. Should break lower occur, the next target for the market bears can be found around $ 21.50 where September lows are located.

Silver interval D1. Source: xStation5

17 September 2026, 4:45 PM

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17 September 2026, 8:46 AM

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16 September 2026, 8:19 PM

📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls

16 September 2026, 7:59 PM

Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.

Commodities

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