Gold and Silver Prices Plummet, Triggering Notable Decline

Spot gold prices experienced a significant downturn, dropping below the $4,030 mark with a daily decrease exceeding 2%. The decline also extended to New York gold futures, which saw a 2.15% fall in price, reaching $4,050 per ounce. Similarly, spot silver plummeted, currently priced at $47.66 per ounce with a drop of 1.8% for the day. New York silver futures also faced a substantial decline, recording a decrease of over 2%, settling at $47.61 per ounce.