Why did silver price today drop 30%?

The move followed reports that Kevin Warsh could lead the Fed, which lifted the US dollar index and pressured dollar priced metals. Heavy leverage in futures and ETFs triggered margin calls, forcing more selling. Thin liquidity and wider spreads amplified the fall, producing the worst day since 1980.

How does the US dollar index affect silver and gold price today for Canadians?

When the US dollar index rises, metals priced in USD often fall. For Canadians, a stronger USD can cushion local losses in unhedged funds because USD assets translate into more CAD. In hedged funds, currency effects are reduced, so metal price changes flow through more directly.

What should Canadian ETF holders do after this plunge?

Check if your fund is CAD hedged, review tracking versus its index on stress days, and note any premiums or discounts to NAV. Use limit orders to control execution. Rebalance to target weights rather than chasing moves. Ensure you have cash for margin or redemptions so you are not forced to sell.

Are miners riskier than bullion now?

Often yes. Miners add company factors like costs, debt, and operational risks to metal price swings. They can drop more than bullion in selloffs and rebound faster in rallies. Review balance sheets, hedge coverage, and cash costs. Diversified ETFs can reduce single name risk but still follow the cycle.

Global Market Insights

Silver Price Today, January 30: 30% Crash as Warsh Pick Lifts Dollar

ByHuzaifa Zahoor January 31, 2026

Silver price today plunged about 30% on January 30, 2026, its worst day since 1980, after reports that Kevin Warsh is Trump’s pick to lead the Fed lifted the US dollar. The surge in the greenback sparked forced deleveraging across crowded precious-metals trades, while gold price today also fell on profit taking and margin calls. For Canadian investors, CAD returns can differ as the loonie moves against the USD. We explain what happened, what it means, and how to adjust risk now.