Precious Metals Crash Wipes $3 Trillion; Crypto Markets Show Resilience
Gold and silver markets experienced a historic selloff, erasing $3 trillion in market value within nine hours. Gold (XAU) plunged 6.87% ($2.36 trillion loss) while silver dropped 13.23% ($580 billion loss), triggering cross-asset volatility.
Cryptocurrencies displayed muted reaction, with Bitcoin (BTC) and Ethereum (ETH) holding key support levels. Market analysts note potential capital rotation into digital assets as inflation hedges falter.
The liquidation event coincided with reduced open interest in gold futures and silver ETFs, while crypto derivatives markets saw 15% higher volume than 30-day averages.