Precious Metals See Historic Sell-Off as Silver Suffers Worst Day Since 2008

According to Odaily Planet Daily, precious metals markets experienced an exceptionally sharp sell-off, with spot silver plunging 20.00% intraday, marking its largest single-day decline since 2008. Following the steep drop, silver is currently trading at around $92.19 per ounce.

Spot gold also remained under heavy pressure, continuing its downward trend and breaking below the $4,900 per ounce level. Gold prices fell by nearly 9% intraday, highlighting the intensity of selling across the precious metals complex.

The dramatic moves reflect a combination of factors, including rapid shifts in interest rate expectations, U.S. dollar dynamics, and large-scale liquidation of leveraged positions. Precious metals, which had previously benefited from strong momentum, appear to be undergoing aggressive profit-taking and position unwinding.

Market participants are now closely watching whether prices stabilize at lower levels or if further volatility lies ahead. The magnitude of the declines suggests that sentiment has shifted abruptly, making precious metals one of the most volatile asset classes in the current trading session.#PreciousMetalsPullBack