Critical Materials & Mining Monthly: October 2026

AI desk brief

Silver ended October 2026 at $49.10/oz, down 18.74% on the month and 31.49% year to date, while the Nasdaq Sprott Silver Miners Total Return Index fell 19.01% monthly. Sprott attributes silver’s weakness to the broader market sell-off but argues that constrained supply, investment demand and growing industrial use support its longer-term outlook. The dollar index rose 0.42% to 101.88, while the US 10-year Treasury yield fell 36 basis points to 4.93%; these nominal-yield data do not establish a real-yield move. Longer-term fundamentals could support silver, but the report does not establish a near-term recovery catalyst.