Gold and silver prices have decreased significantly from their peak levels, as per the July 2026 edition of DSP Netra. The report analyzed past drawdowns in gold and silver prices since the 1970s, comparing the magnitude of each correction and the time taken to recover.
In January 2026, gold hit an all-time high of $5,602 per ounce before dropping to $3,942 per ounce, marking a nearly 30% decline. Despite this decline, it is less severe than historical corrections, such as the 71% plunge after the January 1980 peak.
Silver, after reaching a record high of $121.6 per ounce in January 2026, fell to $55.6 per ounce, showing a 54% decline. This correction, though steep, is milder compared to past bear markets, like the 93% crash after the January 1980 peak.
The current correction in both gold and silver has surpassed the 25% drawdown mark quickly after their respective peaks in January 2026. However, it is still early to predict when prices will stabilize or return to previous highs, as the correction is ongoing.
