The biggest crash in decades: More than $7 trillion was wiped off the precious metals market in 36 hours.
Silver fell by more than 30% and dropped below $85 per ounce, losing about $1.96 trillion; gold fell 13.6% to below $4,900 per ounce, reducing its market capitalization by $5 trillion; platinum dropped 27.25% to below $2,100 per ounce, losing $215 billion; and palladium fell 21.5% to below $1,700 per ounce, losing about $85 billion.
Experts attribute the sharp drop in prices to global economic instability and rising interest rates. Investors have begun selling off assets en masse, leading to a sharp increase in market supply. Many analysts predict that the situation could worsen in the coming months if no measures are taken to stabilize the market. At the same time, some experts believe this could present an opportunity to buy at the bottom. Monitoring market behavior is expected to become particularly important for investors in the coming weeks.
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