Silver traded near $53.89 an ounce Friday after a Thursday technology selloff sent investors into U.S. Treasuries, highlighting a split between demand for safe assets and pressure on the metal.
FXStreet put spot silver at about $53.89 an ounce at 8:19 a.m. ET (12:19 UTC) Friday, Oct. 23, and said it had fallen 5.8% the previous day. Reuters reported a Thursday price of $54.84, down 5.4%, at 2:05 p.m. ET (18:05 UTC), while Kitco later listed $54.440 in late U.S. trading, down $3.410, or 5.90%. The readings reflect different times and do not establish one shared closing price.
The U.S. Treasury’s daily par yield curve showed the 10-year rate at 4.96% on Thursday, Oct. 22, down from 5.13% on Wednesday, Oct. 21. The Associated Press (AP) reported investors bought government bonds for safety during the technology-stock selloff. The S&P 500 fell 1.2% and the Nasdaq Composite dropped 2.6% that day.
Market coverage linked pressure on equities to concerns over the cost and financing of artificial intelligence investment. Meta said in its Wednesday, Oct. 21, earnings release that it expected 2026 capital expenditures of $135 billion to $145 billion, including principal payments on finance leases. Reuters quoted Thomas Urano, co-chief investment officer at Sage Advisory, saying, “The flight-to-quality trade is winning in the Treasury space.” FXStreet said higher borrowing costs raise the opportunity cost of holding silver, which pays no yield.
FXStreet’s AI-assisted chart analysis put the next support level at $50 an ounce and initial resistance near $55. The Federal Reserve raised its target range by 25 basis points on Sept. 16 to 3.75%-4.00%. Its next meeting is scheduled for Tuesday and Wednesday, Oct. 27-28.
