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Gold Futures Crash After Chinese Speculators Trigger Metals Selloff

Gold Futures Crash After Chinese Speculators Trigger Metals Selloff

Author:

Global Cryptocurrency

Published:

2026-02-02 08:31:02

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BTCCSquare news:

Gold futures plummeted 9% in their worst single-day performance in over a decade, while silver futures recorded an even steeper 26% decline—a drop market observers marked as the biggest on record. The selloff intensified across global exchanges, with gold falling an additional 6% to $4,538 per ounce and silver tumbling another 12% to $74.36.

Chinese speculators, who had driven precious metals to fresh records in recent weeks, rapidly unwound their positions. The Shanghai silver price, which had soared to unprecedented levels, collapsed as the rally proved unsustainable. President Trump's nomination of Kevin Warsh to lead the Federal Reserve further catalyzed the market disruption.

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