Home / Business and Economy / Silver Plummets 30% in Historic One-Day Drop
Silver Plummets 30% in Historic One-Day Drop
2 Feb
Summary
- Silver experienced its worst single-day performance since 1980.
- Gold prices also saw a significant decrease of around 9%.
- Asia-Pacific markets anticipated a mixed trading session.
Precious metals markets faced significant volatility as silver experienced its sharpest one-day decline since 1980, dropping about 30% after more than doubling in value over the preceding twelve months. Gold prices also fell considerably, around 9%, leaving investors watchful of further price movements.
This market turbulence coincides with anticipation for crucial private data concerning China's factory activity in January. As a result, Asia-Pacific markets were poised for a mixed opening. Futures for Japan's Nikkei 225 indicated a stronger start, while Hong Kong's Hang Seng index futures suggested a weaker opening. Australia's S&P/ASX 200 also saw a decline.
