Markets opened the first week of February in negative territory as precious metals continued to slide, though trading appears to be probing for a local bottom. The sell-off in metals is the dominant theme driving early weakness across markets. 

Silver has borne the brunt of the move, plunging by almost 40% in total, a fall the report interprets as signaling the bursting of a speculative bubble in the metal. Silver had joined the prior rally in gold only belatedly, amplifying losses when the turn came. 

The sharp drop in silver underscores heightened volatility in the metals complex and leaves market participants searching for signs that prices have stabilized. Watchlists will likely focus on indicators of a local low before risk appetite returns. #silver #gold #commodities #markets #FiatNews