Gold and silver prices plunge wipe out over $3 trillion in market value

Global financial markets witnessed a sudden and sharp fall in gold and silver prices within minutes, erasing more than $3 trillion in overall market value.

The unexpected move has stunned investors and analysts worldwide.

According to a foreign news agency, precious metals had reached record highs over the past few weeks.

However, prices reversed abruptly, with gold falling by nearly 5 per cent and silver dropping by more than 8 per cent, resulting in significant financial losses across the market.

Analysts attribute the rapid decline to several key factors, including profit-taking after record gains, speculative trading, ongoing global economic uncertainty and heightened geopolitical tensions.

Some investors have linked the sharp drop to possible market manipulation, suggesting deliberate efforts to push prices lower.

However, no major regulatory or government authority has confirmed such manipulation. Analysts note that gold and silver markets are relatively smaller in size, making them more vulnerable to sudden and sharp price swings.

The analysis further indicates that Federal Reserve policy decisions, rising interest in cryptocurrency investments and activity in exchange-traded funds (ETFs) have also contributed to market volatility, adding pressure on precious metal prices.