Silver Prices Crash in China, Wiping Out Millions; Gold Also Under Pressure

• Global commodity markets witnessed a sharp decline in silver prices on Thursday, erasing two days of recovery.
• In early Asian trading, silver briefly surpassed $90 per ounce before a massive sell-off ensued.
• Spot silver reportedly fell by about 17% at one point, according to a Bloomberg report.
• The decline in silver also put pressure on gold and other metals.
• Silver is now more than one-third lower compared to its all-time high on January 29.