In this video: Chief Market Strategist Gareth Soloway breaks down the historic 39% intraday drop in Silver, which plummeted from a high of $121 yesterday to a low of $74 today. This isn't just a correction—it’s a massive liquidity washout driven by extreme leverage and "exponential" greed.
Gareth explains why the charts gave us a heads-up days ago with a "Topping Tail" signal and reveals exactly where he stepped in to buy the bounce for a swing trade. But beware: the technical damage is extensive. While Gareth remains a long-term bull, he explains why his "Big Buy" level is still much lower. Video by Gareth Soloway.
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Silver experienced a historic intraday collapse, plummeting as much as 36% to 39%. After reaching an all-time record high of $121.67 just one day earlier, prices crashed to an intraday low of $74.00. This marks the largest single-day percentage decline on record for the metal.
The market stabilized slightly by the close of the week, with spot silver trading near $85.91 as of January 31, 2026.
Market Drivers for the Collapse
-Margin Hikes: The CME Group raised initial margin requirements for silver futures by 50%, increasing from $10,000 to $15,000 per contract. This triggered a massive liquidity washout and forced liquidations among leveraged traders.
-Fed Chair Nomination: Reports that the Trump administration intended to nominate Kevin Warsh for Federal Reserve Chair caused the US dollar to jump, putting immediate downward pressure on dollar-priced commodities.
-Aggressive Profit-Taking: Following a parabolic 65% rally in January 2026 alone, the market was severely overextended, leading institutional players to secure gains simultaneously.
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