Gold and silver prices fell sharply today, sparking a sell-off in global markets and hitting shares of mining companies as well as precious metals-linked funds.
In the first hours of trading in the US, the price of silver fell by about 15 percent, falling to approximately $98.66 per ounce and falling again below the psychological threshold of $100.
Meanwhile, gold lost about 7 percent of its value, trading at $5,009.46 per ounce.
The decline was also reflected in the futures market.
Gold futures with the closest maturity in New York fell 5.5 percent, while silver futures for February delivery fell 11 percent.
The selling pressure also extended to other precious metals - Platinum in the market fell by over 14 percent, while Palladium lost almost 12 percent of its value.
These developments also had a significant impact on world stock markets, write CNBC.
In Europe, the regional Stoxx 600 Basic Resources index, which tracks the performance of the continent's largest mining companies, was down 3.2 percent in morning trading.
The blow was also reflected in individual stocks.
Fresnillo, the world's largest silver producer listed on the London Stock Exchange, recorded a 7 percent decline.
Meanwhile, in pre-opening trading on Wall Street, shares of Endeavor Silver fell 14.7 percent, while First Majestic Silver fell 14.4 percent.
Silver-linked exchange-traded funds (ETFs) also fell sharply. The ProShares Ultra Silver fell 25 percent before the market opened, while the iShares Silver Trust ETF lost 12.7 percent.
However, despite the recent decline, gold and silver had reached record levels during 2025, with annual increases of 65 percent for gold and 150 percent for silver.
The upward trend has continued in 2026: since the beginning of the year, silver has increased by 37 percent, while gold by 15.4 percent. /Telegraph/
