Gold and silver extend sell-off after historic plunge — yellow metal drops 5%
CNBC·2026-02-02 09:49

A jeweller shows gold and silver bars at his shop in downtown Kuwait City on Jan. 12, 2026.Gold and silver extended their sell-off Monday, deepening losses from last Friday's rout as a firmer dollar and profit-taking drains momentum from a rally that had propelled the precious metals to record highs just days earlier.Spot gold lost around 5% to 4,616.79perounce,havingcrashednearly104,616.79 per ounce, having crashed nearly 10% on Friday, when prices plunged below 5,000 an ounce. Silver, which had surged alongside gold on safe haven demand and ...