Precious metals markets are experiencing a dramatic and historic liquidation. In a stunning reversal, silver prices collapsed by more than 30 percent last Friday, tumbling from record highs above $121 to below $80 per troy ounce. This represents the most severe single-day decline for the metal in over forty years, since 1980. The downward spiral continued into Monday’s trading session, with the commodity briefly trading between $70 and $75.
Silver Plummets in Historic Market Sell-Off - Bild: über boerse-global.de
Gains accumulated over several months were erased in the span of just two trading days. Market strategists attribute the plunge to a brutal correction of speculative excess, a situation exacerbated by forced liquidations in the futures market.
Key Data Points:
* Friday’s trading saw silver shed over 30 percent of Read more...
