Silver · 22–23 Oct 2026

Silver: –5% on rate fears Thursday, AI selloff piled on Friday

Two shocks in 48 hours, not one. And AI doubts also cut Fed-hike odds, which partly cushions metals.

Thu 22 Oct · Rates / oil day

–5.0%

Silver to $55.06

Brent at highest since May
US CPI, PPI hotter than expected
Goldman sees 25bp hike in December
Markets price 85%+ odds of that hike

Fri 23 Oct · AI selloff day

–1.45%

Silver to $53.80, lowest since Nov 2025

Meta capex plan revives AI-debt worries
Meta –7.0%, Nvidia –4.4%, Amazon –4.6%
Traders sell metals to cover equity losses
Month: silver –15.7%, gold –6.2%

Bigger single-day hit: rates / oil (Thursday)
Faster, forced selling: AI-led equity slide spilling into metals
Offset: shaky AI trade lowers expected Fed hikes, which helps silver
Why silver, not gold: thinner market, more leverage, margin hikes

1-month moves

Silver falls about 2.5x as much as gold

Fri 23 Oct: AI-linked stocks

Day change, %

Driver scorecard

Click a header to sort. Search a channel or effect.

Driver	Channel	Effect on silver

Precedent: AI selloff → metals

12 Feb 2026: AI-led equity slide broadened, silver fell 10.7% to $75.22 (Kitco)
Strategist called it algo selling, not a fundamental change in metals
Analysts note silver's liquidity is roughly 9x thinner than gold's
Data-centre demand is a longer-term link between silver and AI