Silver price drops sharply, falls back below $80 an ounce

After hitting an all-time high of $121.65/oz on Jan. 29, silver prices have tumbled to $79.44/oz, with analysts warning of a potential drop toward $50/oz.After reaching an all-time high of $$121.65 per ounce (oz) on Jan. 29, silver prices have fallen sharply in recent days, dropping to $79.44/oz this morning. The downturn had been anticipated by two analysts interviewed by pv magazine on Jan. 27, who warned that the steep rally seen in previous weeks could reverse abruptly in the days ahead. One of the two analysts, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said the ...

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