Silver prices fell Jan. 22, 2026, due to reduced safe-haven demand and ETF selloffs, though fundamentals remain strong.

Silver prices dipped on January 22, 2026, as U.S. President Trump’s softened stance on tariffs and Greenland eased geopolitical tensions, reducing safe-haven demand. Global silver fell modestly, but Indian silver ETFs plunged 19%–21%, dropping below their net asset values due to a collapse in speculative premiums. The selloff was driven by profit-taking, improved risk appetite, and a stronger U.S. dollar, not fundamental weaknesses. Physical silver and futures saw smaller declines, highlighting ETF volatility. Analysts note strong industrial demand and long-term support from inflation hedging and central bank buying, but advise caution amid near-term uncertainty.