💥 Gold & Silver Extend Declines After Dramatic Sell-Off
Gold and silver prices continued to fall sharply following a historic sell-off, reflecting profit-taking and crowded trade unwinds after recent record-breaking rallies.
Key Facts:
• Spot gold dropped ~4%, after tumbling as much as 10% intraday — the largest decline in over a decade.
• Silver fell over 7%, hitting an intraday drop of up to 16%, highlighting extreme volatility.
• Market drivers: unwind of leveraged positions, stronger U.S. dollar, and Fed nomination news influenced short-term pricing.
Expert Insight:
Despite sharp declines, fundamental demand remains intact. The sell-off is largely due to positioning and profit-taking, suggesting volatility may continue before metals stabilize.
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