Precious metals saw sharp declines as a major unwinding in trading positions triggered steep losses across gold and silver markets.
Gold prices dropped to $4,900 while silver experienced a 25% plunge amid a significant unwinding of trading positions. The abrupt sell-off reflects heightened volatility in the precious metals sector, with traders liquidating positions rapidly. Such moves often occur when market sentiment shifts due to macroeconomic pressures or changes in interest rate expectations.