Gold and Silver Prices Tumble amid Easing Tensions and Stronger Dollar

Gold and silver prices experienced a notable drop on Thursday, with silver sinking more than 11%, as speculators took advantage of the recent price rally. The stronger dollar and diminishing geopolitical concerns exerted further pressure on these safe-haven investments.

Gold's spot price fell by 1.9% to $4,869.85 per ounce at 1156 GMT, continuing its earlier slump of over 3%. U.S. gold futures due in April also fell by 1.2% to $4,891.30 per ounce. Silver saw a dramatic decrease, falling 10.8% to $78.50 per ounce, after plummeting nearly 17% earlier.

Analysts attribute this to ongoing volatility, with Julius Baer's Carsten Menke emphasizing the markets' struggle to stabilize since last week. Amid fluctuating prices and geopolitical developments, commodities and equities also saw declines, while spot platinum and palladium experienced significant price drops.