World silver prices have once again experienced a sharp decline, dropping from $92 to $73 per ounce within a day, as confirmed by trading platform data.
On the evening of February 4, the price of this precious metal reached $92.02 per ounce, which was 10.5 percent higher compared to previous values. However, soon after, the price began to decrease rapidly, and by the time of writing this article, it stood at $77.57, indicating a drop of 8.09 percent, with some moments seeing a decline of up to 11 percent.
Before rising above $90, silver experienced a sharp decline, falling from $120 to nearly $70 per ounce. This was due to the market's reaction to the candidate presented by U.S. President Donald Trump for the head of the Federal Reserve, as well as investors' desire to lock in profits after a surge in precious metal prices in January.
Experts had previously noted that in markets characterized by "chaotic sell-offs" and "overly sensitive" reactions triggered by news headlines, sharp price volatility for gold, silver, and other assets has become commonplace, at least in the short term.
