Silver prices drop 8% in US, hit lowest since 2021
Silver prices in the US tumbled 8% on Tuesday, sliding to $48.11 per ounce—the steepest drop we've seen since 2021.
This sharp fall comes as the US dollar strengthens, the Federal Reserve hints at delaying rate cuts, and demand from industries like electronics and solar cools off.
Not long ago, silver had actually spiked to $54 thanks to a supply crunch in London.
Silver still higher than last year
Even after this dip, silver is still sitting higher than last year at $50.04 per ounce—a $16 jump.
Silver stands out because it's both an investment against inflation and a must-have for tech and green energy sectors, making its price extra sensitive to shifts in global demand.
Its gains this year show investors still see value in silver, especially with ongoing economic uncertainty and its many industrial uses.