Global financial markets were shaken as gold and silver prices plunged sharply, wiping out more than $3 trillion in market value within just 90 minutes.
Gold prices fell to around $5,135, while silver dropped to nearly $109, primarily due to aggressive profit-taking. Analysts say the sell-off followed an extraordinary near-90% rally over the past year, which had been fueled by geopolitical tensions, a weakening US dollar, and strong central bank demand.
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The sudden decline in precious metals triggered broader market anxiety, spilling over into risk assets. S&P 500 and Nasdaq futures fell sharply, reflecting growing investor caution.
US equity markets also closed lower, weighed down by a 12% drop in Microsoft shares after the tech giant reported disappointing earnings and weaker-than-expected guidance, further adding to overall market volatility.
The rapid sell-off highlights how quickly sentiment can shift in overheated markets, as investors rush to lock in gains amid rising uncertainty.
