Gold and silver prices are tumbling again today: What’s happening with safe-haven assets?

Gold and silver prices are plunging again. Silver is down 17% in five days, and gold has fallen more than 10%. Precious metals have been particularly volatile amidst the ongoing U.S.-Iran war and broader market shifts. Gold fell to $4,691.70 per ounce on Thursday, while silver slipped to $70.68 per ounce. The current streak of days with consecutive losses is the longest for gold prices since 2024, Bloomberg reports. Just two weeks ago, gold hit a record high, and silver reached its own peak in February. Prices of the two are often linked; when gold prices go up, so do silver’s (and vice versa). But this recent drop seems misaligned with the global conflict’s effect on market prices. Safe-haven assets typically rise during geopolitical conflicts International tensions like these generally cause gold and silver prices to rise as investors seek out alternative assets that are seen as being more stable. In 2022, gold prices reached a one-year high after Russia invaded Ukraine. Even e