Silver traded at $66.40 per ounce at 6:30 a.m. Eastern Time on Wednesday, Aug. 12, 2026, as PPI report today traders watched a same-day inflation read that could keep the metal’s move intact. The price was up $1.44 from the same hour the day before, leaving precious-metals investors with a market that has already moved far beyond its usual range.
Over the past 12 months, silver has gained more than $28 and surged more than 150%, putting it at its highest levels in over a decade. For investors holding bullion, coins, or silver-backed ETFs, that kind of move changes entry points fast and raises the cost of waiting for a pullback.
66.40 and a yearlong break
As of the same morning reading, the spot price marked the live rate at which silver can be bought or sold instantly. Real-world buyers usually pay more than spot because of markups, shipping, insurance, and other fees, so the cash price on the screen is not the final price in hand.
99.9% purity is the minimum for bullion and coins on exchanges, which keeps the investable market distinct from lower-purity metal that generally falls into collectible or industrial categories. That split matters for buyers deciding whether to hold metal directly or use ETFs, since the route changes storage, access, and the size of the premium paid over spot.
S&P 500 and silver since 1921
96% is the gap by which silver has underperformed the S&P 500 from 1921 onward, a reminder that the metal’s role is not long-run equity-like compounding. Silver is prized for stability and for its ability to hedge against inflation, but it also swings more sharply than gold because industrial demand adds another force to the price.
Solar equipment and healthcare devices are part of that demand base, which is one reason silver can move harder than a pure store-of-value asset. If industrial orders stay firm, the price can keep stretching even when inflation fears ease.
IRS rules and silver holdings
10% to 15% is the allocation many advisors suggest for silver, while total precious metal holdings are often kept under 20%. IRA-eligible silver coins and bars stored with an IRS-approved custodian qualify, but coins with lower silver content, such as pre-1965 U.S. coins, are not permitted in retirement accounts.
For investors in precious metals, the practical issue is not whether silver is moving — it already is — but whether they own the right form for the account they use. With silver above $66 and still carrying a yearlong gain of more than $28, the immediate decision is whether to add exposure, trim it, or wait for the next price print.
