Silver plunges by more than 11%... and gold falls below the $5,000 per ounce mark.

Date 5/2/2026

Gold and silver prices fell sharply on Thursday amid a widespread sell-off in the market and increasing pressure on precious metals after the dollar rose to its highest level in nearly two weeks, as well as signs of easing trade tensions between the United States and China.
Spot gold fell 1.7% to $4,876.12 an ounce by 04:02 GMT, retreating from its highest level in nearly a week reached earlier in the session.
U.S. gold futures for April delivery fell 1.1% to $4,896.30 an ounce, according to Reuters.