Precious metals tumbled sharply on Friday, erasing weeks of gains in a matter of hours. Silver plunged around 35% after touching record levels near $120, while gold dropped roughly 12% from its recent peak above $5,500, sliding back toward $4,700. The sudden reversal suggests the crowded rally in metals may have run out of steam as traders rushed to lock in profits.
Bitcoin, meanwhile, held relatively steady around $83,000, moving sideways even as stocks and commodities sold off. Some analysts say the earlier surge in gold and silver had drained capital from crypto, and the unwind could allow funds to rotate back into digital assets. With volatility rising across markets, traders are now watching to see whether crypto becomes the next beneficiary of shifting risk appetite.
