Silver Prices Plummet Amid Fed Uncertainty and Supply Deficit

Silver's price has been declining, down 2.51% on Friday to $57.77 per ounce, extending its slide by nearly 19% since the start of the year.

Despite this drop, the fundamental story behind silver remains largely unchanged, with a supply deficit in place for its sixth consecutive year.

The Silver Institute's World Silver Survey 2026 confirmed a shortfall of 46.3 million ounces, adding to cumulative inventory drawdowns that have reached 762 million ounces since 2021, equivalent to roughly nine months of global mine output.

The gold-silver ratio has become the market's most closely watched gauge, currently sitting at 69.84 and perilously close to the upper bound of its 50-year range, which averages between 60:1 and 70:1.