Gold, silver, and cryptocurrency experience sharp decline
Gold and silver, which were testing historic highs until recently, have experienced a sharp decline due to the strengthening of the dollar. Bitcoin has also fallen below 85 thousand dollars.
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Investors turning to metals as a safe haven had brought gold and silver to historic highs. However, the recovery in the US dollar has reversed the trend for precious metals.
With the recovery of the dollar, gold prices recorded a decline of up to 5.7 percent, marking the sharpest daily drop seen since October 21.
Silver prices, meanwhile, fell by as much as 8.4 percent.
GOLD OUNCE AT 5 THOUSAND 288 DOLLARS
Spot gold was trading at 5 thousand 288 dollars per ounce, down 2.5 percent, at 11:27 New York time.
Silver is trading at 112.7 dollars per ounce.
BITCOIN BELOW 85 THOUSAND DOLLARS
Bitcoin has fallen below 85 thousand dollars for the first time in two months, in parallel with the global sell-off pressure on risky assets and the decline in technology stocks.