Cryptocurrency Markets Unfazed by Precious Metals Plunge

1 mins mins

Key Points:

Spot silver dropped up to 35%, spot gold declined 12%.
The gold-silver ratio spiked to 64 before settling around 58.
Market moves driven by USD strength and anticipation of Federal Reserve rate hikes.

On Friday, the precious metals market experienced a sharp downturn as spot silver plummeted by 35% and spot gold decreased by 12%, affecting global market dynamics..

The significant decline indicates potential shifts in market strategies and investor sentiment, influenced by profit booking, liquidation, and Federal Reserve’s monetary policy stance.

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