Silver Slumps to $60 After 50% Rout, Analysts Forecast $130 Rebound

Silver is trading near $60 an ounce on July 6 after plunging nearly 50% from its January intraday peak of $121.79. The sharp decline followed the unwind of a speculative futures frenzy that had briefly driven prices above $115, leaving the metal down 12% year-to-date. Despite near-term pressure from a stronger dollar and higher-rate expectations, robust industrial demand from solar, EVs, AI data centers and defense, combined with persistent supply deficits, underpins forecasts for a recovery to $80 by year-end and a test of $110-$130 in 2027. The selloff may also establish a healthier base near $58-$62, supporting silver-mining equities on any renewed rally.