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Gold and Silver Plunge as Wild Swings Rock Metals Markets - BLOOMBERG

JANUARY 31, 2026

 Gold suffered its biggest slide in four decades and silver posted a record intraday decline in a stark reversal of the rally that lifted prices to all-time highs.

Gold fell more than 12% to slump below $5,000 an ounce in its biggest intraday decline since the early 1980s. Silver plunged as much as 36%, a record intraday decline, as the selloff swept through the broader metals markets. Copper fell 3.4% in London, retreating from Thursday’s record high. The dollar jumped, boosted by a selloff commodity currencies including Australian dollar and Swedish krona.

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