Silver Holds Triple Digits Despite Volatility and Industrial Profit Booking

Volatility Watch

Intraday volatility remains extreme, with $5 swings becoming the new normal. The options market is pricing in continued turbulence as the expiration of February contracts approaches, potentially triggering another gamma squeeze.

Solar Sector Demand

Major photovoltaic manufacturers have warned that silver costs are now materially impacting module margins. However, with no viable substitute, demand remains inelastic, providing a high floor for prices.