Silver actually touched a two-month high earlier this week but lost those gains fast as investors cashed out (profit booking) and got spooked by rising inflation.
Higher energy costs are making things worse, lowering chances of quick Fed rate cuts, so more people are turning to the US dollar for safety, which puts extra pressure on gold and silver.

US Treasury yields are close to their highest in a year, making non-interest assets like gold less attractive.
The US dollar index also jumped over 1% this week, adding more weight on precious metals.
Still, analysts say that ongoing energy risks and global tensions could help support gold and silver in the long run.