Silver Prices Plummet by Nearly Half as Rate Hike Odds Reach 94%

Silver prices have fallen sharply in recent months, losing nearly half of their value since reaching an all-time high in January.

According to data from iShares Silver Trust (SLV), which tracks the price of physical silver bullion, the fund has dropped 5.49% in a single day, leaving it 49.97% below its 52-week high of $109.83.

This decline is largely attributed to the recent rise in interest rates and inflation fears, which have led to a strengthening dollar and higher Treasury yields.

The 10-year Treasury yield has reached a 19-year high of 5.17%, while December rate hike odds now stand at around 94%.