Gold and silver price slump: key risk signals for mine planners and engineers - Geomechanics.io

AI desk brief

Gold slumped 3.2% intraday to $3,891.67/oz, its lowest in a year and about 28% below January’s $5,419.83 record close, while silver fell 5.8% to $49.34/oz, pushing the gold-silver ratio to its highest since December. Heavy Comex liquidation accompanied the move, with 18 million oz of gold and 236 million oz of silver traded by midday as higher oil, renewed Fed hike bets and tech-led equity losses pressured the complex.

December Comex gold traded as low as $3,900.90/oz before settling around $3,907.90/oz, while December silver hit $49.08/oz. The article flags muted physical demand in India and China, limiting support, and notes severe equity damage across major producers and streamers, with Newmont, Agnico, Barrick, Wheaton and Franco-Nevada collectively down nearly $140bn from highs.