Silver returned 66% and halved, in the same year
SILVER returned +66.0% over twelve months and +178.8% over three years. It also suffered a 51.4% drawdown, while its closest historical setups produced the only negative base rate in this batch.
The strongest asset, and the most punishing to hold
SILVER traded at $63.33 on 7 August 2026.1 The series here is the front-month COMEX silver futures contract rather than spot, stitched across contracts as each expires. Its twelve-month range stretched from $37.26 to $115.08, leaving the metal 45.0% below its high.
The endpoint remains exceptional. Silver returned +66.0% over twelve months and +178.8% over three years.
The path was something else. Its deepest drawdown during the same twelve months was 51.4%. Over the past three months it fell 21.6%, against an 8.0% decline in gold.
The annual return records where silver started and finished. The drawdown records what an investor had to survive between those points. Both belong in any serious account of the year.
Silver did not merely deliver a strong return with high volatility. It paired the strongest return in the batch with its deepest internal loss.
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Not investment advice.