Silver prices have collapsed to their lowest level in seven months, with spot trading falling below $60 an ounce.
The metal is now down approximately 53% from its all-time high of $121.78 recorded in January 2026, marking a severe correction after a prolonged rally.
In the current session, spot silver declined 0.70% to $56.99, extending a weekly loss of more than 14%.
The sharp depreciation reflects a broad sell-off across precious metals, as traders unwind positions accumulated during the earlier bull run.
The downturn is being driven by a combination of macroeconomic headwinds and structural demand shifts.
A strengthening U.S. dollar has pressured bullion prices, while rising costs from the 2025 rally are deterring key industrial users.