Silver prices plummet, dragging gold into a significant correction

2026-02-13 06:10:07

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The precious metals commodity market is experiencing intense selling pressure. Silver prices have plummeted sharply, dropping by 20% in a single day, marking the largest daily decline since the 2008 financial crisis. This significant drop in silver prices reflects extreme volatility in the global commodity markets.

Silver Leaves a Two-Decade Deepest Drop

The current spot silver price is trading at $92.19 per ounce after experiencing overwhelming selling pressure. A 20% decline in one day is the worst momentum for silver investors since 2008—a period that marked the most severe global financial crisis. This percentage indicates a high level of panic or significant portfolio rebalancing among traders. The rapid decline in silver prices suggests large-scale position liquidations or sudden changes in market expectations.

Gold Spot Also Slips with Nearly 9% Intraday Drop

Along with silver, gold spot prices are also under similar pressure. Gold fell below the psychological level of $4,900 per ounce, with an intraday decline of up to 9%. This pattern indicates that both precious metals are experiencing coordinated corrections, likely triggered by macro market factors such as dollar strengthening or changes in interest rate expectations. Although the 9% decline in gold is more moderate compared to silver’s 20%, both assets clearly show a downward trend, signaling a withdrawal of capital from the precious metals sector overall.

The plunging prices of silver and gold spot reflect highly volatile market dynamics, with investors seeking certainty and liquidity amid global economic uncertainty.

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