Silver Falls to 6-Month Low, Down Over 50% from All-Time High
Miles Bennett
Spot silver fell over 4% on Wednesday to a six-month low; the metal has now lost more than 50% from its January peak of $121.61, with technicals uniformly bearish — though the RSI has entered oversold territory.
How far has silver fallen?
Spot silver extended its decline on Wednesday, dropping over 4% intraday to the lowest level since December 9, 2024 — a near-six-month low.
Since hitting an all-time high of $121.61 per ounce on January 29, the cumulative pullback now exceeds 50%, virtually erasing the entire prior rally.
This means → anyone who bought near the peak is sitting on a loss of more than half; the bull-run gains have been almost entirely wiped out.
Is the short-term picture just as bad?
Silver has also fallen 23.6% from its more recent high of $76.97 per ounce on June 2.
In plain terms = the damage isn't only measured from the all-time top — even from a high set less than a month ago, nearly a quarter of the value is gone.
This reflects a short-and-long-term resonance sell-off, not a gradual drift — selling pressure has been concentrated and intense.
What are the technicals saying?
Spot silver has broken below its 20-day, 50-day, 100-day, and 200-day moving averages, all of which are now in bearish alignment — shorter-term averages sit below longer-term ones, confirming the downtrend across every time horizon.
The RSI — relative strength index, a momentum gauge where readings below 30 are considered oversold — has dropped to 29.31, entering oversold territory.
This means → downside momentum is theoretically near an extreme, but no meaningful buying support has appeared yet, and a stabilization signal remains elusive.
What is the current market posture?
Silver is firmly in a sustained bearish regime; near-term momentum is unambiguously to the downside.
Market participants are watching for two things: a technical bounce, and whether price can stabilize around current levels.
In plain terms = being deeply oversold does not guarantee a rebound — a genuine bottom requires real buyers stepping in, and that hasn't happened yet.
Content is for reference only, not financial advice.