The silver market has once again faced a sharp decline in prices, which plummeted from $92 to $73 per ounce in less than a day. This data was published during trading.
By the evening of February 4, the price of silver reached $92.02 per ounce, corresponding to a 10.5 percent increase. However, a decline soon followed, and at the time of writing, the price was $77.57, indicating a decrease of 8.09 percent, with some moments seeing a drop of 11 percent.
The increase in price above $90 occurred after a sharp drop from $120 to nearly $70 per ounce. This is attributed to the markets' reaction to the candidate proposed by U.S. President Donald Trump for the head of the Federal Reserve, as well as investors' desire to lock in profits after the rapid rise in precious metal prices in January.
Experts note that in markets subject to so-called "disorderly sell-offs," where assets, including gold and silver, fluctuate due to emotional reactions to news, sharp volatility has become a common phenomenon, at least in the short term.
