Silver prices tumbled on Monday, dragging down gold and other precious metals, as a record-breaking rally went abruptly into reverse.
Spot silver prices were down almost 9 per cent by late afternoon trading to just above $72 a troy ounce, on track for their biggest one-day fall since the Covid pandemic, all but reversing the gains it had made during the thinly traded Boxing Day session.
The decline spilled over into gold, which slid more than 4 per cent to just above $4,300, dragging it down from the string of record highs it had reached in recent sessions.
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