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💀🚨New York (COMEX) silver futures collapsed by up to 4.5% on Friday, August 28, 2026, erasing a large chunk of its late-August gains to settle near $66.26 per troy ounce. The sharp drop snapped a three-week winning streak after a significant policy shock injected sudden volatility into the precious metals market. 🔎 Why Prices Plummeted 🤔Hawkish Fed Commentary: Federal Reserve Chair Kevin Warsh used his highly anticipated keynote speech at the Jackson Hole economic symposium to deliver a starkly hawkish message. He warned that underlying inflation trends have not sufficiently improved, keeping a September interest rate hike firmly on the table. 🤔Yields and Dollar Surge: The prospect of a "higher-for-longer" rate environment caused a swift rally in U.S. Treasury yields and pushed the U.S. Dollar Index (DXY) upward. 🤔Asset Repricing: Because silver yields no interest, higher bond rates increase the opportunity cost of holding the metal, prompting rapid institutional fund liquidation. Silver’s industrial identity added additional downside exposure compared to gold as traders feared broader economic cooling. #marketanalysiswithnehatahir #NYSilverFuturesDrop3% 📊 Market Breakdown & Technical Levels 🔥Before the midday plunge, silver actually gapped upward to a multi-week intraday high of $71.16 before reversing entirely to hit a session low of $66.21. $BTC $BNB $ETH