Silver Price Forecast for October 5, 2026
SILVER Rate
Silver is trading near $61.18 on the 4-hour chart after rebounding from $59.681. Precious metals are receiving some support from softer expectations for an October Federal Reserve rate increase following weak U.S. employment data; silver was up about 1.3% in Monday trading.
SILVER Elliott Wave Analysis, Chart and Forecast
Silver Chart: The broader Elliott Wave structure remains bearish. The decline from the September high completed wave d before a corrective recovery formed wave e near 65.092, completing wave X. The subsequent sharp selloff supports the start of another bearish sequence.
Within the current decline, wave (a) appears complete, followed by an irregular corrective recovery in wave (b) that ended near 59.681. The chart now favors a recovery in wave (c), completing wave b at a higher degree.
Silver Forecast: The immediate outlook therefore allows for a corrective rebound toward the $63.00 region. This advance would remain corrective within the larger bearish structure rather than confirming a new uptrend. Completion of wave b could then open the way for wave c lower, initially exposing $60.00 and potentially levels below $59.681.
Silver News: The next major U.S. monetary-policy catalyst is the FOMC minutes on October 7. Markets will scrutinize the minutes for clues about the Fed’s rate path after weaker employment data reduced expectations for an October hike