Silver prices traded in a volatile range during the week of September 7, 2026, opening near $66–$67 before peaking above $68 on September 9 and then declining sharply to intraday lows near $63 amid hotter U.S. producer price data that lifted Fed rate-hike odds to roughly 70%. Stronger Treasury yields near 5% on the 10-year note and a firmer dollar weighed on the non-yielding metal, contributing to a roughly 2.3% weekly loss to close around $64.55 despite a late-session rebound. Persistent structural supply deficits and industrial demand from solar and electronics provide longer-term support, while the September 15–16 FOMC meeting and final CPI print remain key near-term catalysts for trader positioning in XAG/USD.