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Precious Metals Rout Continues as Gold Dips Below $5,000, Silver Crashes 14%
Precious Metals Rout Continues as Gold Dips Below $5,000, Silver Crashes 14%
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Gold extended its decline, falling 7% to $4,515/oz—marking its first sub-$5,000 level in weeks following Friday's 10% plunge. The selloff erased $4 trillion from global market capitalization as investors fled traditional SAFE havens.
Silver suffered even steeper losses, tumbling 14% to $73/oz after its catastrophic 30% single-day drop last Friday. This represents silver's worst daily performance since the 1980 market crash, signaling deepening turmoil in commodities markets.
The parallel collapses in both metals suggest structural shifts in asset allocations, with capital potentially rotating toward digital stores of value. Cryptocurrencies like bitcoin often demonstrate inverse correlation to precious metals during market stress.
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