Silver Price Falls to $55.74, Near 2026 Low Amid Fed Rate Hike Bets

Silver price dropped 6.29% on Wednesday, October 14, to $55.74, its lowest daily close of 2026. This decline was amplified compared to gold due to hot US inflation data, specifically the September CPI rising 3.7% year-on-year, which revived Federal Reserve rate-hike bets and pushed CME FedWatch odds above 50% briefly. The price is currently above the $54.5 Fibonacci retracement level; a close below this level would confirm a fresh lower low and potentially lead to the $50 mark.