Gold and silver prices wobbled on Wednesday following their sharpest one-day fall in over five years, as global equity and bond markets paused after recent rallies. The selloff, which many analysts are calling a long-overdue correction, has rattled traders but hasn’t altered the broader bullish narrative surrounding precious metals. Advertisement

Gold dipped below $4,100 an ounce in London trading, extending Tuesday’s 5% slump. Silver also saw a similar pullback, testing short-term support levels amid heavy profit-taking. The decline followed an extraordinary rally that had lifted gold to record highs, marking its strongest year since the 1979 oil crisis.

While there was no single catalyst behind the plunge, market observers say it reflects a mix of profit-booking, overextended position

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