Spot gold plunges about 10%, marking its sharpest drop in decades and putting the metal on track for its worst single-day decline since 1983. The move signals an abrupt reversal after a prolonged rally and reflects extreme volatility across global commodity markets.
Silver sees even steeper losses, collapsing below $80 per ounce and shedding more than 30% in a single day. The scale and speed of the decline underscore heavy forced liquidations and a sudden shift in investor risk appetite, with selling pressure overwhelming liquidity.
In total, nearly $2 trillion in market value is wiped out from precious metals within hours. Analysts describe the episode as a historic breakdown, warning that elevated volatility may persist as traders reassess leverage, positioning, and near-term macroeconomic risks.
