Silver prices today, Wednesday, August 5, 2026: Prices rising in early trading on Hormuz optimism

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Silver (SI=F) September futures opened at $59.78 per ounce on Wednesday, August 5, 2026, down 0.8% from Tuesday's closing price. Silver is on the rise this morning, reaching $62.27 as of 8:09 a.m. ET.

Silver prices opened within the narrow range they have been opening with all week, but silver prices are up appreciably in early trading, cresting the $62 mark for the first time since July 6.

President Trump said a deal to reopen the Strait of Hormuz could happen as soon as Wednesday, but it's unclear to what level the U.S. has engaged in direct negotiations with Iran related to the strait.

According to various news reports, there have been advancements made in Hormuz negotiations, but they involved Iran and Oman directly, as well as the potential for some European countries to help clear mines from the strait.

With the July jobs report coming out on Friday, silver investors will continue to closely watch peace developments in the Middle East and just how many jobs were added to the workforce last month. Both will influence future Fed rate decisions, directly impacting silver prices.

The opening price of silver futures on Wednesday, August 5, 2026, 0.8% lower than Tuesday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:

For context, silver's year-over-year growth was 173.3% on May 14.

24/7 silver price tracking: Don't forget you can monitor the current price of silver on Yahoo Finance 24 hours a day, seven days a week.

Want to learn more about the current top-performing companies in the silver industry? Explore a list of the top-performing companies in the silver industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Over the past 50 years, gold outperformed silver, delivering higher long-term returns. Since the 1970s, silver and gold prices have dramatically increased, but their roles in the economy and their long-term performance are very different.

Governments and investors view gold as a store of value, and central banks hold large gold reserves to protect their economies against global inflation or geopolitical crises. It's also widely used to produce jewelry.

Silver is much more abundant in supply than gold, but it also has more uses. Silver plays a significant role in manufacturing and industrial production; companies use silver to make solar panels, electronics, and medical devices. The industrial demand can affect silver's prices, causing more drastic changes.

Whether you're tracking the price of silver since last month or last year, the price-of-silver chart below shows the precious metal's value journey so far this year.

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