Global precious metals markets experience their largest collapse in decades, with more than $7 trillion erased in just 36 hours. The selloff marks a historic episode of extreme volatility, driven by forced liquidations, leverage unwinds, and a sudden shift in global risk sentiment.
Silver plunges more than 32%, falling below $85 per ounce and wiping out roughly $1.96 trillion in market value. The move represents the steepest intraday decline since 1980. Notably, silver continues to trade at a sharp premium in Shanghai, where prices hover near $122 per ounce, compared with Western markets.
Gold drops 13.6% to below $4,900 per ounce, erasing about $5 trillion in value. Platinum and palladium also suffer heavy losses, down 27.25% and 21.5% respectively. Analysts describe the move as a structural shock likely to keep volatility elevated.