International gold and silver markets saw a sudden and violent selloff on Friday, with gold prices plunging to around $5,135 per ounce and silver falling to $109, as aggressive profit-taking erased trillions in market value within just 90 minutes, according to market research.
The sharp reversal followed an extraordinary rally over the past year, during which precious metals gained nearly 90 per cent, driven by geopolitical tensions, a weakening U.S. dollar, and sustained buying by central banks. Analysts say the abrupt pullback was largely technical, as traders rushed to lock in gains after the prolonged surge.
Silver was hit particularly hard, tumbling more than 10 per cent in a single session. Risk assets also came under pressure, with S&P 500 futures down 1.2 per cent and Nasdaq futures sliding 2.5 per cent, signalling broader risk aversion across global markets.
At the time of reporting, silver had lost an estimated $760 billion in market capitalisation, while gold wiped out well over $2 trillion in value. Combined, traders noted the scale of the wipeout rivalled the entire market capitalisation of Bitcoin, underscoring the intensity of the move.
Despite the dramatic fall, gold remains significantly higher on a year-to-date basis. Investors are now watching closely to see whether prices stabilise or stage a rebound amid continued volatility and uncertainty around global monetary and geopolitical developments.
U.S. equity markets also closed lower on Thursday, led by a sharp selloff in Microsoft shares. The stock plunged 12 per cent, its steepest single-day drop since March 2020, after the company reported slower-than-expected cloud revenue growth and issued weaker operating margin guidance for the coming quarter.
The broader market followed suit, with the S&P 500 down about 1 per cent, the Nasdaq Composite falling 1.6 per cent, and the Dow Jones Industrial Average slipping 21 points.
Traders on X (formerly Twitter) described the simultaneous turbulence in gold, silver, Bitcoin, and equities as “intense,” reflecting a market environment where sharp moves are becoming increasingly common as investors reassess risk across asset classes.
