Silver is at risk of a significant price drop, with Bloomberg Intelligence's senior commodity strategist Mike McGlone warning of a potential reversion to $60 per ounce. McGlone highlighted that despite recent volatility, silver remains overvalued compared to copper, with the silver-to-copper ratio still above historical peaks. This suggests that silver's current price strength may not be sustainable. The strategist noted that the silver-copper ratio, which recently hovered in the mid-teens, indicates that silver is stretched on a long-term scale. A recent sharp decline in silver prices, triggered by market events, underscores the metal's vulnerability. McGlone suggests that even a drop to $60 would not necessarily bring silver to fair value, as it would still be expensive relative to copper, which serves as a more stable benchmark due to its industrial demand.