The safe-haven metals turned volatile — silver's most volatile year since 1983, by the size of its daily price swings.
30 days
silver moved >5% in a day in 2026 (through 31-Jul, LBMA fix) — the most since 2011, and by realized volatility (~71%) the most volatile silver year since 1983
| Large daily moves | Silver >5% | Gold >3% |
|---|---|---|
| 1980 (Hunt-brothers / inflation era) | ~77 | 62 |
| 1974 | ~48 | 39 |
| 2008 (GFC) | 27 | 35 |
| 2011 | 31 | 9 |
| 2020 (COVID) | 14 | 8 |
| 2026 (through 31-Jul) | 30 | 11 |
LBMA/ICE official benchmark fixings (primary), fix-to-fix daily moves and annualised realized volatility, full record 1968-2026, computed by us. 2026 through 31-Jul.
The reading — and its limits
2026 silver (30 days >5%, ~71% realized volatility) is the most volatile since 2011 by count and the most volatile since 1983 by the size of its daily price swings — but NOT an all-time record: 1980 (the Hunt-brothers squeeze) and 1974 were far wilder. Gold (11 days >3%, ~31% volatility) is elevated to roughly 2008 levels but middling on the long record (~6th). This is about the frequency of large moves returning to the haven assets after the calm 2010s, not an all-time extreme — and the pace cooled after the first half.
Method Count of days with a silver >5% / gold >3% fix-to-fix daily move, and annualised realized volatility, on the LBMA/ICE benchmark (USD), full record 1968-2026, computed by us. 2026 through 31-Jul.
Computed 31 July 2026