Gold Drops Over 6% in Biggest One-Day Decline

Gold and silver plunged after record rallies, with gold sliding as much as about 6.3% to roughly $4,082–$4,141 an ounce and silver falling up to about 8.7% toward $47–$48, marking gold’s steepest one‑day drop in more than a decade. Traders and analysts said the rout was driven by profit‑taking after a parabolic rally, momentum/speculative flows including surging options activity, a firmer U.S. dollar and signs of easing U.S.–China trade tensions that reduced safe‑haven demand. The selloff hit miners and ETFs hard—Newmont fell nearly 10% and the VanEck Gold Miners ETF dropped about 9.5%—while broader U.S. equities climbed and the Dow reached record highs amid strong earnings such as GM’s. Billionaire investor Bill Gross warned the rally showed “meme and momentum stock” characteristics, even as strategists pointed to central‑bank buying, low real rates and elevated inflation as continued supports for bullion. Bitcoin recovered to roughly $113,000, underscoring short‑term rotation between digital assets and bullion despite Bitcoin’s stronger multi‑year gains versus gold.