Silver Spot ($US/oz)

After a record-breaking rally that looked to have gone too far, too fast, the metal has suffered a brutal reversal, plunging more than a third from its late-January all-time high after enduring its largest ever one-day collapse last week. Yesterday saw silver plunge over 16% in just over an hour when many Australians were enjoying lunch, blink and you missed it! The precious metal didn’t break last week’s panic low, but it’s a brave trader who bets against it at least testing below $US70 in the coming weeks.

• We anticipate ongoing volatile price action from silver with a negative bias over the coming weeks/months.