Silver Price Prediction for Next Week

Silver Price Prediction for Next Week (19th October- 23th October 2026)

COMEX Silver dropped -7% this week as hotter-than-expected US core CPI fueled rate hike expectations, pushing December Fed hike odds to 92% (72% probability of a pause this month). However, prices rebounded above $57/oz on Friday, driven by equity selloffs and escalating Middle East geopolitical risks following a Strait of Hormuz container ship attack. In India, silver demand remains stable, though imports face headwinds from softer local demand, government restrictions, and reduced export duty drawback rates notified on October 15. Over the past 30 days ending October 16, 2026, registered silver reserves grew by 5.9 million ounces (up 6.1%) from 97.2 million to 103.1 million ounces. on the data front, US industrial production rose 0.7% in September, beating expectations (0.4%), led by a 0.3% gain in manufacturing. Higher industrial demand supports silver's physical consumption, though stronger economic data boosts rate hike expectations, creating near-term price headwinds.

Silver price has plunged for past four consecutive week and posted weekly loss of more than -6% in past week and settled on a negative note at 211,418. Price has settled below its all key moving averages i.e. 50 and 200-DEMA levels placed at 229,354 226,520 respectively. Here, we can observe a convergence of these moving averages, indicating early signs of Bearish bias in Silver price. Like Gold, price has rebounded from the support low of 207,971, however, price has still remains below bearish trendline. Further breakout below this mark will boost the downside momentum in Silver price and next support would be around the psychological level of 200,000. RSI levels remained diminishing below 50 on all major timeframes. We can observe a bearish crossover on Monthly MACD above zero-line with emergence of negative histogram.

We are expecting Moderately bearish trend in Silver in upcoming week and traders should look for Sell-on-rise opportunity.

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Prediction given by Technical Research Team - Choice.