According to Gate data, silver extended its decline sharply, with spot silver falling below $61 per ounce and New York silver dropping 12% on the day, deepening the broader precious metals sell-off.
Precious metals remained under pressure as silver posted steeper losses than in the earlier update. Gate data showed spot silver falling below $61 per ounce, down 10.17% intraday, while New York silver dropped 12.00% to $61.29 per ounce. This adds to the broader decline previously reported across metals, including spot platinum at $1,857.35 per ounce, spot silver at $64.84 per ounce, and spot gold at $4,407.89 per ounce. Earlier information also showed that the sell-off coincided with a sharp rise in trading activity for Gate’s metal-linked contracts, with CoinGlass data cited by Gate showing XAUT 24-hour volume at $100 million, up 638.49%, and XAG volume at $130 million, up 506.70%.