Silver prices have fallen sharply to around $49 per ounce amid a broader correction from February 2026 highs near $120, pressured by profit-taking, a stronger U.S. dollar, elevated real yields above 5%, and expectations of further Federal Reserve rate hikes following persistent inflation data. Industrial demand faces headwinds from accelerated thrifting in solar and weaker global manufacturing, though structural supply deficits of roughly 46 million ounces are projected for 2026. Recent tech-sector weakness and margin pressures have amplified downside moves. Traders are watching November inflation releases, labor data, and any FOMC signals for shifts in monetary policy expectations that could influence near-term volatility and price thresholds.