Silver's wild ride: Record highs, sudden dip, and what's next
Silver just hit a record $120 per ounce before settling below $116.
Even with this drop—sparked by investors cashing in after a quick flash crash—the metal is still up an eye-popping 65% this month and over the past year.
Basically, it's been a rollercoaster.
What's holding silver up (and what could push it further)?
As long as prices stay above the $99 mark, experts say silver's bullish streak is alive.
Key support sits at $106-$108 and $100, while resistance looms around $118-$121 and higher at $126-$128.
The surge comes from tight supply, big demand from China, global tensions, and booming industries like solar panels, EVs, and AI tech.
Citigroup even thinks silver could reach $150 soon.
Should you care?
If you're into investing or just curious about market trends—silver delivered its best January performance in decades.
On India's MCX exchange, support is ₹3.55-3.6 lakh; resistance is ₹4.15-4.2 lakh.
Analysts remain optimistic about silver's future thanks to strong demand drivers—even after this week's drama.