Spot Silver Plunges Over 9%, Breaks Below $76 Level, Inflation Signal May Dampen Safe-Haven Demand

BlockBeats News, May 16th, according to Bitget market data, spot silver plunged over 9%, breaking below $76, and is currently trading at $75.904.

Spot silver has experienced violent fluctuations again this week. Driven by the AI craze boosting industrial metal demand expectations and concerns about the fuel supply from Peru, the silver price surged over 11% at one point before Wednesday. However, as the Iran conflict intensified global inflation concerns and U.S. bond yields rose rapidly, silver then retreated significantly from its highs.