Silver just had its worst month in 15 years. Where investors see it going next

Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Silver, alongside gold, has long been a safe haven for investors during tumultuous times. In March, that script was flipped on its head. The precious metal ended March 19.7% lower – its largest monthly loss basis since September 2011, when it plunged 28%. March also marked the asset's first month in the red since April 2025. Those declines came as investors took profits in one of the best trades of 2025 after the U.S.-Iran war began. The conflict has led to big swings in equities, bonds, currencies and commodities markets, with traders trying to handicap how long the war will last. Silver surged 141.4% last year, marking its best annual performance since 1979. The stunning rally caught the attention of both long-time commodities traders and less experienced retail investors. "We've shaken out a lot of the fast money, and people can start focusing on the fundamentals again," Peter Boockvar, chief investment officer of OnePoint BFG Wealth Partners, told CNBC. "There was a huge amount of speculation that was built in [to silver]." Silver as an 'ATM' In late February, the U.S. and Israel executed military strikes on Tehran, prompting Iran to largely block off the Strait of Hormuz in retaliation. …