Silver Price Plummets Over 10% After Record High

In accordance with BitcoinWorld, global commodity markets witnessed a dramatic reversal on December 30 as the spot price of silver fell more than 10%, dropping from a record high of $83.75 to $70.96. The sharp decline, one of the largest single-day drops in modern history, was driven by profit-taking, a stronger U.S. dollar, and a moderation in safe-haven demand. Analysts noted that the move was accelerated by technical selling and triggered stop-loss orders in futures markets. The gold-silver ratio also widened during the sell-off, reflecting the metal's heightened volatility compared to gold. Silver's recent rally had been fueled by expectations of central bank policy shifts, geopolitical tensions, and industrial demand, particularly in renewable energy and electronics. The drop highlights the sensitivity of silver to macroeconomic and liquidity factors.