Silver Plunges 30%: Worst Day Since 1980 Amid Fed Chair Speculation, Dollar Surge

• Silver experienced its worst day since March 1980, plunging approximately 28% in spot markets and 31.4% in futures.
• Gold also saw a sharp decline, with spot prices down 9% and futures 11.4% lower.
• The crash was triggered by intensified discussions about Kevin Warsh's nomination for Fed Chair, signaling reduced uncertainty about the Fed's independence.
• A strengthening US dollar, up 0.8%, made metals more expensive and less attractive as reserve assets.
• Experts attribute the sharp fall to forced selling, profit-taking, and unwinding of highly leveraged positions by day-traders after a record rally in 2025.

Why It Matters: Silver and gold crashed due to Fed Chair speculation and a strong dollar, leading to forced selling.