Gold and silver plunge as wild swings rock metals market
Jack Ryan and Yihui Xie
Updated
Gold and silver suffered their biggest slide in years on Friday (Saturday AEDT), in a whipsawing reversal of a scorching rally that lifted prices to all-time highs.
Gold fell more than 12 per cent to slump below $US5,000 an ounce in its biggest daily decline since the early 1980s. Silver plunged more than 36 per cent, a record intraday decline, as the selloff swept through the broader metals markets.