Investors face losses as silver, a traditional safe-haven asset, tumbles from its January 2026 peak above $120 an ounce.
Silver has collapsed more than 50% from its record high, falling to a six-month low after a historic rally driven by safe-haven demand and supply constraints. The metal, once a comfort trade for investors, peaked above $120 an ounce in late January 2026, delivering a 150% gain in 2025 alone.
The surge attracted retail and institutional buyers, with inflows into coins, bars, and ETFs fueled by a weaker dollar and industrial demand from solar panels and AI hardware. Advisers who had long ignored the sector saw renewed interest before the downturn erased gains.
The decline has left late buyers with steep losses, undermining silver’s reputation as a stable hedge against market volatility and inflation.