Silver Price Forecast: Falls to $66 as $100 Crude Oil Pressures Metals

Silver fell sharply toward $65.27 an ounce on Sept. 10, breaking below the $66 area that buyers had defended only days earlier and putting the metal’s recent rebound under fresh pressure.

The decline is notable because silver is not falling during a calm macro backdrop. It is selling off as oil remains above $100, Treasury yields rise and investors increasingly question whether the Federal Reserve may need to tighten policy again.

That combination is turning what might normally look like an inflation-hedge environment into a rate shock instead.

Silver had been attempting to stabilize after its volatile 2026 reversal, but Sept. 8 silver price forecast already identified the $63-$66 region as the key short-term base. With $66 now giving way, the lower part of that range is suddenly much more relevant.

<iframe src=”https://widgets.coincodex.com/w/83954141-e19f-41cb-a61f-7e96d774234e?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” style=”border:0;background:transparent;border-radius:0px;”></iframe>$63 Returns as the Next Major Test

The technical map has changed quickly.

Earlier this week, the question was whether silver could defend $66 long enough to challenge $70. Now traders are watching whether selling accelerates toward $63, with the previous technical support around $62.54 sitting just below it.

XAG/USD analysis had already framed $66 as the first test for bulls as Treasury yields and Fed expectations rose. The latest move suggests that test may now be failing.

A recovery back above $66 would soften the immediate bearish signal, while a decisive break through $62.54 would expose silver to a deeper retracement.

For now, the momentum advantage has shifted back toward sellers.

$100 Oil Is Hurting Silver Instead of Helping It

The bigger story is what is driving the selloff.

Brent crude held above $100 a barrel on Thursday as renewed U.S.-Iran fighting and attacks around key Middle Eastern shipping routes intensified supply concerns. Reuters reported Brent near $102 as traders weighed the risk of prolonged disruptions.

Coinpaper has also tracked how the recent Brent breakout above $100 is increasing fears that higher energy costs could keep inflation elevated.

That is important for silver because hotter inflation does not automatically help precious metals.

Higher oil prices can push bond yields higher and encourage markets to price a more aggressive Fed response. That raises the opportunity cost of holding non-yielding assets such as silver.