US EditionGold and Silver Prices Plummet in Correction After Record Highs
Gold dropped over 9% and silver plunged nearly 30% on Friday, marking their worst days since 1983 after the US dollar strengthened on a Federal Reserve nomination.
- On Friday, US President Donald Trump nominated Kevin Warsh, former Federal Reserve governor, triggering a US dollar rally and causing gold and silver to drop 7% and 11% by Monday.
- After recent weeks of record highs, gold and silver had hit those levels as investors sought refuge amid global geopolitical uncertainty and tariff worries, leaving metals vulnerable to a sharp reversal.
- The one-day moves—nearly 30% in silver and over 9% in gold—marked their worst single-day drop since 1983 on Friday.
- Markets felt spillovers as UK and US stock markets looked set to open lower, mining giants faced pressure and Brent oil traded 5% lower, while Bitcoin fell to around $77,000.
- Traders have not found buy-the-dip levels and Chinese Lunar New Year could accelerate selling as Chinese traders reduce risk, with Ipek Ozkardeskaya and Kathleen Brooks warning of deeper losses.
21 Articles
21 Articles
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Why billionaire investor Thomas Kaplan isn’t stressing about gold and silver’s historic sell-off
Metals guru Thomas Kaplan says there’s “every reason in the world to buy gold.” LUDOVIC MARIN/POOL/AFP via Getty Images Billionaire Thomas Kaplan shrugged off the slump in gold and silver prices as short-term volatility. Kaplan said his long-term price target for gold is in the “tens of thousands of dollars.” Kaplan said that gold will keep rising because it’s a “currency that can’t be debased at will.” Billionaire investor Thomas Kaplan says h…
Why veteran investor Thomas Kaplan isn't stressing about gold and silver's historic sell-off
Metals guru Thomas Kaplan says there's "every reason in the world to buy gold."LUDOVIC MARIN/POOL/AFP via Getty ImagesBillionaire Thomas Kaplan shrugged off the slump in gold and silver prices as short-term volatility.Kaplan said his long-term price target for gold is in the "tens of thousands of dollars."Kaplan said that gold will keep rising because it's a "currency that can't be debased at will."Billionaire investor Thomas Kaplan says he's un…
The nomination of the new head of the central bank leads to an abrupt stop of the high flights. On the market there is uncertainty.
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