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Silver Plummets More Than 16%, Erasing a Two-Day Recovery
Silver fell sharply, erasing a two-day recovery, as the white metal struggled to find a price floor following a historic market rout. Gold also declined. Spot silver tumbled as much as 16.6% on Thursday, having briefly recovered above $90 an ounce in early Asian trading. Meanwhile, spot gold dropped as much as 3.5% in choppy trading. “Sentiment seems to have turned soggy across most asset classes, including regional equities and metals,” said Christopher Wong, a strategist at Oversea-Chinese Banking Corp Ltd. “This underscores fragile sentiment” and has created “a feedback loop amid thin market ... (full story)
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