Gold prices dropped over 6% on Tuesday, settling at $4,109 per ounce after hitting a record high above $4,380 the previous day, while silver fell as much as 8.7%.
The decline, the biggest single-day drop since April 2013, erased $1.75 trillion from gold’s market cap amid a stronger U.S. dollar, rising Treasury yields, and profit-taking.
Meanwhile, Bitcoin surged past $114,000, causing $550 million in crypto liquidations as investors eye potential capital shifts from traditional metals to cryptocurrency.
