Gold and Silver Post Steepest Drops in Years as Rally Cools

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 ...