By Robert StevensPublished November 16, 2018 09:18:07There are more than 7.5 million ounces of silver in the US market, according to data from the US Mint.
That’s more than the total value of all US gold, silver, platinum, palladium and copper in the same amount.
That silver is worth a lot.
The silver market crashed to a record low in January 2018, when the Federal Reserve began to slowly ease monetary policy in an effort to bring down the US economy.
At the time, gold and silver were both down nearly 2% a year.
Silver plunged as much as 15% in one day, while gold plunged by more than 80%.
The Fed’s announcement of its interest rate hike in March, which was supposed to help the economy by keeping inflation in check, led to a decline in the value of silver, which led to investors losing their money.
In 2018, silver plunged as steeply as gold.
Silver prices fell by more a whopping 17% from a year earlier, according, to Silver Institute, a group that advocates for the safe-storage of silver.
Gold and silver prices both recovered slightly, but the silver market dropped by more.
What happened to silver?
Gold prices fell sharply after the Federal Open Market Committee (FOMC) in March raised interest rates to 0.25% for the first time in more than a decade.
The market price of gold plunged from a high of $1,100 per ounce in December 2017 to around $1 for the past six months, according the Silver Institute.
Gold has been at or near the bottom of the precious metal price chart since 2014.
The price of silver also plummeted after the FOMC announcement.
Silver plummeted by more 40% from the end of December 2017, to $1.14 per ounce.
Silver is also in decline.
Silver futures for the futures market, which is the largest futures market in the world, fell to a two-month low of $5.75 per ounce on November 20.
The futures market has been hammered by gold price weakness since 2016.
The US Silver Market in 2018 is up more than 8% compared to the same period in 2017Silver prices fell dramatically in January when the Fed started to ease monetary policies in an attempt to bring the economy back from the brink of collapse.
At that time, the silver price had already dropped by nearly a third in less than a year, and the US Silver market was the worst performer on the chart.
Silver futures plummeted by almost 20% from January to the end the month.
Silver was also in freefall in 2018.
The Silver Index plunged by nearly 18% from its peak of $4,200 in January, and it has declined even more since then.
The price of the silver dropped nearly 30% from December to the current time, according Silver Institute data.
Silver fell even further in 2019.
The silver price fell by nearly 30%, from $5,400 in 2019 to $3,800 now.
The Silver Index was down over 40% during the year.
Silver prices are now the worst performing precious metal in history.