Gold, silver tumble in sharp selloff as precious metals lose momentum

Gold and silver prices experienced significant declines on Monday, with gold dropping $110.40 (2.38%) to $4,519.50 per troy ounce, marking its largest one-day loss since early April. Silver fell $2.88 (3.79%) to $73.07 per troy ounce, also its biggest drop since late April. Both metals have seen losses in four of the past six trading days, reflecting a shift in investor sentiment after a strong rally earlier this year. Despite recent declines, both metals remain elevated compared to their 52-week lows, with gold up over 42% and silver over 127% from those lows.