It only makes sense that it might be slightly louder when brand new. Make sure you have the correct size opening, the arrow should only be touching the black bristles not the brown. You should be able to see light most of the way around the arrow.

Now shoot it a few hundred times (you should be doing this anyway) and it will be quiet. It will never be silent, you will still hear a slight noise while drawing but not loud enough to spook anything. My old prong rest makes more noise and I killed more deer with that set up than I care to remember.