In the 1980s, massive inflation caused silver prices to rise to $49.95 per ounce. The Hunt Brothers accumulated large silver positions to hedge against a weakening US dollar but their positions grew too large. To prevent hyperinflation and support the dollar, exchanges like CBOT and COMEX limited traders' positions, and the Federal Reserve rapidly raised interest rates. This forced the Hunt Brothers to liquidate their positions, causing one of the largest single-day price declines for silver with a 78% drop from its earlier high.
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