Gold & Silver Crash: $1 Trillion Wiped in Single Day
Metals suffered a historic single-day wipeout with silver down 5.8%, gold down 2.8%, platinum down 4%, and copper down 2.8% — roughly $1 trillion erased — driven by surging oil prices stoking inflation fears ahead of next week's Fed meeting. Traders are watching for a bottom and potential ATH retest.
What we know
An estimated $1 trillion was wiped from gold and silver Thursday as surging oil fueled inflation fears ahead of the Fed. Silver sank 5.8%, gold 2.8%, platinum 4%, palladium 3.7%, copper 2.8%. An account on X sees Gold/Silver potentially setting up for an ATH run while also noting the entire 2025 gold advance could be erased. Another account on X bought gold at $4001 calling it oversold. Another account on X is watching for a bottom entry trigger. Tin futures also fell 3%+ in Shanghai, while the Shanghai Composite dropped 2%+ and KOSPI hit 40% below its ATH.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.