Gold Prices Plunge Below Key Support Level as Market Volatility Intensifies
Recently, the global precious metals market has experienced significant volatility. Spot gold prices dropped below the critical level of $4,850 per ounce, with a daily decline of 2.80%, drawing widespread attention from investors.
Silver Prices Decline in Tandem
The silver market also showed weakness, with prices plunging by as much as 5.00% during the day, currently trading at $72.50 per ounce. This sharp decline reflects weakening safe-haven demand for precious metals and is significantly influenced by broader macroeconomic factors.
- Gold prices fell below $4,850 per ounce
- Silver prices dropped 5.00% to $72.50 per ounce
- Reduced safe-haven demand and macroeconomic factors driving market trends