Silver Prices Plunge After Historic Rally

Experts weigh in on whether now is the time to buy the dip in silver prices.

Published on Feb. 11, 2026

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Silver prices have plummeted nearly 33% in recent weeks after hitting an all-time high of $115 per ounce in January 2026. Market analysts attribute the drop to a stronger U.S. dollar, weaker demand at high price levels, and concerns about the AI boom that had previously driven silver prices higher. Despite the recent volatility, experts believe the fundamentals for a silver rally remain in place.

Why it matters

Silver's recent price swings have significant implications for investors, industries that rely on silver, and the broader precious metals market. The volatility highlights the speculative nature of the silver market and the need for caution when investing in commodities.

The details

Silver prices skyrocketed from around $31 per ounce in January 2025 to a record $115 per ounce in January 2026, driven by a surge in demand related to the AI data center buildout. However, the price has since plummeted back to $77 per ounce between January 20 and February 5, 2026. Analysts attribute the drop to a brief rise in the U.S. dollar, weaker demand at high price levels, and concerns about the sustainability of the AI-fueled rally.

  • Silver prices hit an all-time high of $115 per ounce in January 2026.
  • Between January 20 and February 5, 2026, silver prices plummeted nearly 33% to $77 per ounce.

The players

The Motley Fool

A financial services company that provides stock research and investment advice.

Kevin Warsh

The Trump administration's nominee for the Federal Reserve, who has advocated for more aggressive interest rate cuts.

iShares Silver Trust (SLV)

An exchange-traded fund that tracks the price of physical silver, with $51 billion in net assets.

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What they’re saying

“Fed Chair nominee Kevin Warsh, once a monetary hawk, has been advocating for a steeper rate cut path.”

— Kevin Warsh, Federal Reserve Nominee (The Motley Fool)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Silver's recent price volatility highlights the speculative nature of the commodity market and the need for caution when investing in precious metals. However, the fundamental factors that drove silver's historic rally in 2025 remain in place, suggesting the potential for a rebound if the market stabilizes.