Gold and silver prices experienced a sudden drop after recent record highs, shaking trader confidence as markets recalibrated. On the world spot market, gold recently traded near $4,600 per ounce, and silver around $88–$90 per ounce before slipping lower amid profit-taking and a firmer U.S. dollar.
After an extended rally driven by safe-haven demand and expectations of interest-rate cuts, the sharp sell-off erased part of those gains as investors booked profits and shifted capital into other asset classes. This drop followed a period where both metals had surged to multi-year highs, with silver briefly above the $90 mark and gold above $4,600.Analysts say this pullback could be a normal correction in a volatile market rather than a long-term downturn. For many long-term holders and value buyers, the dip presents a buying opportunity, while short-term traders remain cautious as global economic data and currency moves continue to influence precious-metal prices.