Silver Crashes 10% in Dramatic Sell-Off
Global precious metals markets plunged today as spot silver tumbled sharply, extending losses to 10% and hitting a low of $67.57 per ounce — the steepest single-day drop in recent weeks.
Gold Dips Too: Safe-Haven Appeal in Question
Spot gold followed lower, shedding 5% to $4,575.52 per ounce. The decline in gold, typically a haven during turmoil, signals shifting investor sentiment and growing uncertainty about the outlook for safe-haven assets.
Drivers Behind the Downward Spiral
- Stronger U.S. dollar putting downward pressure on commodity prices
- Expectations of prolonged high interest rates reducing appeal of non-yielding assets
- Technical selling and margin liquidations amplifying short-term volatility
- Weak industrial demand outlook weighing on silver sentiment
Analysts suggest the turmoil reflects a recalibration of inflation, rate, and geopolitical risk perceptions. Precious metals may face further downside as markets digest evolving macroeconomic signals.