Precious metals market meltdown erases 7.4 trillion dollars
Around 7.4T in total value disappeared from gold and silver after a historic selloff that started on January 30 2026.
The shock came after Kevin Warsh was nominated to lead the Fed causing traders to dump heavily crowded long positions.
Gold dropped roughly 9 to 12 percent in one day falling from about 5600 to near 4700.
Silver saw its biggest daily collapse since 1980 plunging 26 to 31 percent and closing under 80 per ounce.
When trades get too crowded liquidity can vanish in minutes.