Silver weekly forecast, 7 to 11 Sep 2026: Silver stalls at 67 as the same Fed math bites harder
By Emanuele Calcina · Updated 5 September 2026 · Prices are Friday closes · All weekly forecasts · This week's full article
Here is where we keep silver for the week of 7 to 11 Sep 2026: the chart we trade against, the levels we use and the print that can change our mind. Friday close 66.05, -1.4% on the week. The silver note for Wednesday is added to this page after the close.
| Market | Friday close | Week | Daily chart | 20-day low / high | What decides the week |
|---|---|---|---|---|---|
| Silver | 66.05 | -1.42% | inside the descending channel | 63.12 / 71.16 | Same prints as gold, plus the gold-silver ratio, which is still compressing. |
SilverSilver stalls at 67 as the same Fed math bites harder
Silver ended the week at 66.05 on the front month, down about 1.4%, after a run to 67.41 on Wednesday failed. It is a familiar shape. Silver moves with gold but with more beta, so every 1% gold gives back turns into 1.5% or 2% in silver.
The daily chart still reads as a descending channel from the February high above 120, and price has been grinding inside the lower half of it since June. The summer rebound off the 43 area was the strongest leg of the year, and it has not yet threatened the upper line, which sits close to 69.
Why silver reacts more than gold
Roughly half of silver demand is industrial, so it trades as a hybrid: part inflation hedge, part cyclical metal. When hike odds rise, both halves get hit at once. The real-yield argument hurts the monetary side, and the growth-slowdown argument hurts the industrial side.
That is also why silver led on the way up in August, when the market was pricing a softer Fed. It will lead again if CPI comes in cool. The gold-silver ratio has been falling since the spring and sits near 67 ounces of silver per ounce of gold, down from over 80 in the winter.
The levels that matter this week
Wednesday's 67.41 is the immediate ceiling. Above it, the channel top near 69 is the level that would change the bigger picture. Below, the 200-day average around 66.9 has already been lost on a closing basis, and the 50-day around 65.4 is the next place buyers should show up.
We treat silver as a confirmation instrument rather than a lead. If gold closes above its channel and silver is still stuck under 67.4, the gold move is suspect. If silver breaks first, we lean into gold longs with more confidence.
Bottom line. Silver is inside the same kind of descending channel as gold, trading under 67 with the 50-day average near 65.4 as the nearest support.
It will amplify whatever the inflation data does to gold. Above 69 the channel breaks. Below 65 the summer rally is over.
Wednesday's note. Silver after China CPI: 67.4 or 65?. Wednesday's silver note once China's inflation data is in. It is published after the close and appears on this page and on the weekly forecast page.
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The calendar that decides it
The Fed is in blackout from 5 September until the 16 September decision, so this week is pure data. Times are Rome time (CET). US releases are at 08:30 New York, which is 14:30 CET.
| Day | Time (CET) | Release | Why it matters |
|---|---|---|---|
| Mon 7 | 01:50 | Japan Q2 GDP, revised | Feeds BoJ hike odds for the 18th. First mover for USD/JPY and DXY. |
| Tue 8 | all day | No tier-one data; Fed blackout | Oil headlines and Hormuz traffic run the tape. |
| Wed 9 | 03:30 | China CPI and PPI, August | Industrial-metal demand read for silver and copper. |
| Thu 10 | 14:15 | ECB rate decision (press conference 14:45) | 25 bp hike to 2.50% fully priced. Guidance decides EUR/USD. |
| Thu 10 | 14:30 | US PPI, August, and weekly jobless claims | First of the two inflation prints that decide the Fed. |
| Fri 11 | 08:00 | UK GDP, July | Sets sterling into the 17 September BoE meeting. |
| Fri 11 | 14:30 | US CPI, August | The print of the week. Headline was 3.5% on the year in July. Watch core versus energy. |
| Fri 11 | 16:00 | University of Michigan sentiment, preliminary | Inflation expectations component matters more than the headline. |
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Trading gold, FX, crude and crypto on margin carries a high level of risk and you can lose more than your deposit. Nothing on this page is a personal recommendation. Levels are taken from the daily chart at Friday's close and can be invalidated by a single print.