The violent drop in silver and gold prices felt like a sudden end to a yearlong party in metal markets, but a cocktail of forces had set the stage for a burst of volatility. Assessing the carnage in ...

Silver futures hit a record high overnight to Monday, reaching $80 an ounce for the first time, but gains evaporated. After ending Monday down 8.7%, the white metal gained more than 10% on Tuesday.

Dramatic declines in gold and silver shook the market on Friday. Sell America sentiment eventually sparked a speculative mania that set the stage for the drop. The music stopped as momentum traders ...