The price of silver literally collapsed Friday, declining more than $45 oz. from its intraday peak of just over $120 oz. the day before. The spot price intraday low had a $73 handle, and in less than one day the silver price implosion amounted to 39%. On a net closing price basis ($115 oz. to $84 oz.) the decline ($30 oz.) is more moderate at 26%.
In my previous article Do The Fundamentals Justify $100 Silver?, the price of silver was perched at $94 oz. At the time, it had not broken through the $100 mark, but it appeared that it could/would do so shortly…