Staff Answer
May 15, 2026 - 06:27 AM
At 9 AM ET on Friday, May 15, 2026, the live spot price of silver plummeted to $77.15 per troy ounce and $2,480.42 per kilogram. Compared to yesterday morning’s benchmark of $86.80 per troy ounce, silver has suffered a massive 11.12% drop in a single day, continuing its reputation for extreme volatility relative to gold.
Silver bore the brunt of today's market sell-off due to a compounding hit to its dual identity as both a macro hedge and an industrial asset. Beyond the broader macroeconomic headwinds of a strengthening U.S. dollar, a significant policy shock emerged from India—the world’s second-largest bullion consumer. New reports indicate India has suddenly doubled its import tariffs on gold and silver from 7.5% to 15%. This policy change has triggered a sharp contraction in immediate physical demand expectations, catching institutional traders off guard and sparking heavily automated selling across global futures exchanges.
