Silver Prices Plummet by Over 55% in Just Six Months

Silver prices have plummeted to $51 per ounce after reaching an all-time high of $121.67 in January this year. This represents a staggering decline of over 55% in just six months.

The speed and magnitude of the collapse are reminiscent of the infamous 'Silver Thursday' crash of March 1980, when silver prices fell by more than 80% after the Hunt brothers attempted to corner the market.

Analysts from firms like J.P. Morgan believe that physical supply deficits accumulated in recent years will keep the average price for the year above current lows.