Breaking! Silver plummets 4%, gold falls below 4590 dollars, the market went crazy again tonight
On the evening of January 16, a shocking scene unfolded in the global precious metals market, leaving many investors completely stunned by the market movement.
According to the latest market data from Bitget, as of 21:23, spot silver plunged 4.00% intraday, with a quote of only 88.66 dollars / ounce, this sharp decline directly pressed the bulls down to the ground, and many retail investors who chased the highs were buried at the top of the mountain. On the other hand, spot gold also weakened simultaneously, falling below the key support level of 4590 dollars / ounce, with an intraday drop of 0.58%, severely damaging the short-term bullish sentiment.
This double whammy came unexpectedly, and the market speculates that it may be related to the short-term strength of the U.S. stock market — funds flowing back from safe-haven assets to risk assets, putting direct selling pressure on precious metals. Some traders also pointed out that the recent rise in silver itself carries a certain speculative sentiment; once there is a hint of trouble, profit-taking will rush for the exit, amplifying the decline.
For ordinary investors, the most crucial thing right now is to control their positions and not blindly bottom-fish. After all, in the current extreme market sentiment, no one knows when the next big bearish candle will appear. Going forward, attention can be focused on the support strength of gold at 4550 dollars; if this level cannot hold, there may be another wave of decline.
The drastic fluctuations in precious metals remind us again: high returns are always accompanied by high risks, especially during sensitive periods of global monetary policy shifts. A little more caution means less passivity.
