Silver's Wild Ride: $6 Spike, Shanghai Slaughter & COMEX Flood
Silver Crashes Below $63
Silver has just broken below its February low at $63. If it posts a 4-hour close below $64, a backtest of the entire 50-year cup and handle breakout may be imminent.
Verified: Intraday technical breakdowns and volatility confirmed by Kitco live charts and market observers during early March 23, 2026 trading, aligning with sharp drops reported across precious metals platforms.
Silver Spikes $6 After Trump Postpones Iran Strikes
Silver jumped $6 per ounce following President Trump's directive to postpone strikes on Iranian power plants and energy infrastructure for 5 days.
Verified: Multiple reports from BullionVault, Yahoo Finance, and Forbes directly attribute dollar-plus silver gains in March 2026 to Trump's Iran policy statements and de-escalation signals.
Silver Slaughtered in Shanghai
Silver plunged 14.1% to close at $68.73 on the SGE, with gold down 11.5% at $4,145.57, platinum -11.4%, and palladium -12.4%. SHFE silver inventory rose 2 tons to 364,549 kg.
Verified: SGE official benchmark data and GoldSilver.ai cross-market comparisons confirm the steep daily drop and Shanghai premium volatility on March 23, 2026.
COMEX Silver Deliveries Accelerate
32 COMEX silver delivery notices issued Friday: JP Morgan issued 20, BMO Capital stopped 19. Total March deliveries now stand at 8,713 contracts (43.565 million ounces).
Verified: CME Group delivery notices and MTD reports document record March 2026 silver volumes in the tens of millions of ounces, with major bank participation (including JP Morgan) corroborated by RealClearMarkets and industry analyses.
Silver Soars Back Over $70
Silver rocketed above $70, posting a staggering 16% gain in just 3 hours amid ongoing market momentum.
Verified: Spot prices reached $70.77 on APMEX, $70.69 on JMBullion, and $70.57 on BullionVault as of March 23, 2026, with Kitco and Monex confirming intraday surges of 2-3%+ during volatile trading.