Gold prices dropped from a peak of $5,600 to $4,770 per ounce, while silver saw a sharp 31% decrease on Friday. This marks the largest percentage fall in silver prices since March 1980.
The sudden downturn in precious metal prices has raised questions about the factors driving this market movement. Analysts are examining various economic and market conditions that may have contributed to the decline.
**Why this matters**
Gold and silver are often viewed as safe-haven assets during times of economic uncertainty. Significant price drops in these metals can impact investors, markets, and industries that rely on precious metals. Understanding the causes behind these changes is important for anticipating future market trends.
Source: NewsData