Silver prices tumble to $68 per ounce as analysts warn of broader market pressure

Silver surged more than 60% in early 2026, briefly reaching $120 per ounce in January, but by June the metal had fallen back to around $68 per ounce. Bloomberg senior commodity strategist Mike McGlone said the sharp reversal could spill over to gold and other risky assets and noted that volatility in the metals market has risen to its highest level since 2007.

Analysts are watching the $64‑$65 price band as a key support level; a break below could push silver toward $60 and then the $55‑$58 range. Meanwhile, Turkish market commentator İslam Memiş warned that, despite a stable dollar/₺ rate near 46 TL, the dollar is expected to finish 2026 around 50‑52 TL and stressed that silver offers a more attractive investment opportunity than gold amid potential Fed rate hikes.

Both analysts suggest that broader macro‑economic factors, including US monetary policy and geopolitical developments, could influence the metal’s trajectory in the coming months.