COMEX silver falls below $77 per ounce, down 9.91% intraday.

COMEX silver prices fell below $77 per ounce on May 15, 2026, marking an intraday decline of 9.91% amid growing concerns over rising U.S. inflation and the potential for Federal Reserve rate hikes. The drop extended losses for a second consecutive session, with silver trading at $77.72 per troy ounce by the close of the day. This decline reflects broader pressures on the metals complex, driven by surging producer, import, and export prices in April—the fastest pace since 2022—and a prolonged Iran war that has disrupted global energy flows.

The decline in COMEX silver inventories has also raised concerns about a potential physical delivery squeeze. Registered silver inventories have dropped below 80 million ounces, a critical turning point in the market. With nearly 6.5 paper claims for every ounce of physical silver, the risk of a liquidity squeeze has increased, particularly if demand for physical delivery rises.

Despite the recent selloff, silver remains supported by strong industrial demand, particularly in electronics and solar panel manufacturing, due to the metal’s high electrical conductivity. However, macroeconomic headwinds, including a strong U.S. dollar and elevated interest rates, continue to weigh on the market.

Looking ahead, analysts expect silver to trade at $82.61 per ounce by the end of the quarter and $97.34 by this time next year, according to global macro models. The structural deficit in the silver market, while narrowing, remains a key factor influencing price dynamics. ——————

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