Silver plummets over 10% after hitting new all-time high

The spot price of silver has plummeted more than 10% from the previous trading day, falling below $71 per ounce. The sharp decline comes after the precious metal set a new all-time high above $83.75 on the morning of Dec. 29. Silver is currently trading at $70.96, a 10.53% decrease from the prior day's close.