Silver price today, May 15: Silver crashes 7.05% in a day despite massive 142.58% yearly rally

Silver prices saw a sharp selloff in the latest trading session as the precious metal dropped more than 7% in a single day. The sudden decline came after silver witnessed an extended rally over the past year, with prices still holding massive yearly gains despite recent weakness.

The metal also slipped into negative territory on weekly and monthly charts as traders booked profits after the strong upward run.

Silver price falls 7.05% as short term momentum weakens

Silver traded at $77.52 per troy ounce after falling $5.87 during the latest session. The metal declined 7.05% in one day, making it one of the biggest daily drops seen recently in the precious metals market.

Weekly losses stood at 2.53%, while monthly performance slipped 0.15% lower. The recent correction reflects rising volatility as investors react to changing market sentiment and broader commodity market movements.

Despite the pullback, silver prices are still up 9.86% since the beginning of the year.

Silver remains up 142.58% compared to last year

On a yearly basis, silver has surged an enormous 142.58%, showing how strongly the metal has performed over the past 12 months.

The rally in silver had been supported by strong industrial demand, investor interest in precious metals, and expectations around inflation and interest rates. However, the latest sharp correction suggests traders are now turning cautious near higher price levels.

Market analysts expect silver prices to remain volatile in the near term as investors continue tracking global economic data, central bank signals, and movements in gold and industrial metals markets.