The price of silver fell the most sharply, losing over 30% of its value, dropping below $85 per ounce. As a result, this sector lost about $1.96 trillion of its market value.
Photo Bloomberg. Exchange data on precious metals prices
Gold, which is traditionally considered a safe-haven asset, also experienced a decline of 13.6%. Its price per ounce fell below $4,900, leading to a reduction in the capitalization of this metal by $5 trillion.
The crisis also affected other platinum group metals.
The sharp price changes caused panic among investors and mass position closures on the largest global exchanges. Analysts link this situation to a number of macroeconomic factors but emphasize that the speed of the decline has no historical precedent in finance.
