Why is silver down today?

Silver is down $2.22 (3.82%) today at $55.74 an ounce. With the dollar index flat (+0.00%), the dollar explains little of the move; it is mostly selling of silver itself. The 10-year US Treasury yield is down 11 basis points at 5.04%; lower yields reduce the cost of holding silver, which pays no interest, but silver is falling anyway. Oil is up 2.6% at $99.71 a barrel, which keeps inflation, and so interest rates, in focus. Gold is down as well (−1.36%); silver tends to follow gold and move further in both directions. The next major US release is the Fed rate decision on Wednesday, October 28 at 2:00 pm ET. Today's silver headlines are mostly about gold and Indian demand.

Silver follows gold most days, usually with bigger moves in both directions, so the dollar, Treasury yields and interest-rate expectations matter for silver too. More than half of silver demand is industrial (solar panels, electronics, electric vehicles), so news about the economy, factory activity and solar installations also moves the price, as do ETF flows and the size of the market deficit.

Automatically, from live data: the silver price and its change, the US dollar index, Treasury yields, stock indices, oil and the other precious metal, the US economic calendar and the topics that come up most in the day's headlines. It says which markets moved together and what usually goes with that. It cannot prove why prices moved, and it is not a forecast or advice.