Gold Price Today: Gold Price Crashes 6%, Silver 8% As Sudden Selloff Grips Precious Metals

A sharp selloff gripped the precious metals market, sending gold prices down 8% and silver prices down 11% from record highs. Both gold and silver retreated sharply from their all-time highs as the US dollar strengthened and investors booked gains in the precious metals.

US spot gold prices have tumbled over 8% to $5,112.39 an ounce after hitting a record peak of $5,595.46 on Thursday. At the time of writing this report on January 30, gold prices traded 3.3% lower at $5,210.20 against their last closing price.
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