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Silver plummets 15%, gold falls 7% — dragging down miners and ETFs
Gold and silver prices plunged on Friday, sparking a global sell-off of stocks and funds linked to the metals. By 5:04 a.m. ET, spot silver was down 15% to settle at around $98.66 per ounce — taking it back below the $100 milestone. Prices of the precious metals also faltered on futures exchanges, with front-month gold contracts losing 5.5% in New York, while silver futures for February delivery were down by 11%. The sell-off gripped the wider precious metals market, with spot platinum down more than 14%, while palladium fell close to 12%. On stock exchanges across the globe, the impact was also visible. In Europe, ... (full story)
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