Gold plunged the most in a dozen years while silver had its biggest drop since February 2021 on Tuesday amid a broad market selloff following a weeks-long rally that sent precious metals to successive record highs.

Spot gold fell as much as 6.3% to $4,082.03 an ounce, while spot silver fell as much as 8.7% to $47.89 an ounce.

A confluence of factors dragged down the precious metal including positive trade talks between China and the US, a stronger dollar, overstretched technicals, and uncertainty on investor positioning due to the government shutdown and the end of a seasonal buying spree in India.

Haven demand for precious metals has cooled somewhat as US President Donald Trump and China’s Xi Jinping are set to meet next week to iron out their differences on trade. Gold’s relative

See Full Page