Silver Stages Comeback as Bulls Regain Footing After Volatile Retreat
Silver prices have rebounded sharply to $80.82 per troy ounce, marking a decisive recovery after weeks of turbulence. The rally began tentatively from a $30-$35 base before accelerating through $60, ultimately peaking NEAR $115 in a parabolic move fueled by speculative demand.
The subsequent correction—a swift $45 drop to $70—reflects natural profit-taking after unsustainable momentum. Current stabilization above $70 suggests institutional buyers are rebuilding positions, with technical support now evident at higher levels.
Market veterans note this pattern mirrors historic bull runs: violent advances punctuated by equally fierce consolidations. 'Silver eats weak hands for breakfast,' remarked one London trader, referencing the metal's volatility.
