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Precious Metals Plummet in Historic Selloff Amid Dollar Strength

Precious Metals Plummet in Historic Selloff Amid Dollar Strength

Author:

Global Cryptocurrency

Published:

2026-02-01 19:18:01

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BTCCSquare news:

Silver cratered 26% while gold tumbled 9% on Friday in one of commodities trading's most violent reversals. The selloff, triggered by speculation about Kevin Warsh's potential Federal Reserve appointment, sent shockwaves through global markets.

Chinese speculative activity had previously driven metals to unsustainable heights, with copper briefly spiking above $14,500/ton before its equally dramatic collapse. Traders worldwide abandoned normal routines, monitoring positions across time zones - some executing trades mid-flight, others frozen at industry events watching real-time price carnage.

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