Silver Now Down 22% From Its Record High

International silver has officially entered the bear market territory, down 22 percent from its record high.

At 3:20 PM, silver was down below $98 per ounce after rising as high as $122/ounce earlier this week, data shows.

Current spot rates are still ~$98/oz, likely due to profit-taking. This typically reflects market volatility amid economic uncertainty.

Many commentators on X opined that this is how a liquidity crisis starts. Meanwhile, some claimed that this is pure market manipulation.

Prior to losses over the past 24 hours, silver prices had climbed by over 41 percent since January 1, 2026.