Gold falls to $5,000, silver tumbles 14% as precious metals rally come to a halt

Gold (GC=F) fell 6% to around $5,000 per ounce on Friday while silver (SI=F) tumbled 14% in a sharp reversal of this year's massive rally in precious metals. The volatility came alongside a wider stock market sell-off, with the major averages all lower. "The higher metals rise, the more likely 2026 will mark enduring price peaks — notably for silver — if history is a guide," Mike McGlone, senior commodity strategist at Bloomberg, wrote on Friday. "There are always sound fundamental reasons for rallies ...