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Silver Price Outlook July 2026: Two Catalysts, One Setup

Silver price outlook July 2026 — XAG/USD daily chart showing silver's spike to $121 in January 2026 and correction to $58.99, with a physical silver bar in the foreground.

Silver trades at $58.55 — down 52% from its January all-time high, yet the supply deficit is widening, the gold-silver ratio sits at 69:1, and institutional forecasts remain well above current prices. Here is what June CPI and the July 28–29 FOMC meeting mean for silver right now.

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