Gold Records Sharpest Single-Day Drop in 12 Years Amid Market Shifts
Gold prices plummeted 6% to $4,120 per troy ounce on Tuesday, marking the largest one-day percentage decline since June 2013. The drop followed a record high NEAR $4,400 just a day prior, as easing geopolitical tensions and progress in U.S.-China trade talks reduced demand for safe-haven assets.
Silver mirrored the retreat, tumbling over 8% to $48.40. Both metals remain up significantly year-to-date—gold by 57%—fueled earlier by inflation fears, U.S. debt concerns, and global economic uncertainty. The reversal suggests traders are reallocating to risk assets as macroeconomic clouds lift.