Gold and Silver Plunge in Historic Sell-off

Precious metals markets experienced a dramatic "risk-off" event, with significant price drops across the board. Spot gold saw a sharp decline, at one point falling over 12% to touch $4,682 per ounce, marking its largest single-day percentage drop since the early 1980s. By the close of trading, spot gold settled at $4,880 per ounce, down 9.25%.

Silver experienced an even more severe downturn, plummeting over 36% in intraday trading and recording its largest daily decline in history. The precious metal hit a low of $74.28 per ounce before recovering slightly to close at $85.259 per ounce, still representing a substantial 26.42% loss for the day.

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