Gold and Silver Wipe Out $2 Trillion on Monday Market Opening, Will Bitcoin and Crypto Follow?

Core Insights - Gold and Silver experienced a significant market crash, losing over $2 trillion in market value within hours due to geopolitical tensions [1][6] - Both metals officially entered bear markets, with Gold and Silver prices dropping nearly 10% and more than 22% from their all-time highs respectively [2][5] Market Performance - Gold prices fell by 5-7% in recent sessions, with weekly losses around 10%, marking the largest decline since 2011 [2] - Silver performed worse, dropping over 14% for the week and briefly falling below crucial support levels of $69-$80 per ounce [5] Contributing Factors - The crash was driven by profit-taking, institutional liquidation, and a stronger US dollar, leading to a total market capitalization loss of $2 trillion for Gold and Silver [6] - Analysts identified rising treasury yields as a key factor, increasing the opportunity cost of holding non-yielding commodities like Gold and Silver, which prompted margin calls and forced selling [7] Market Behavior - Despite ongoing conflicts involving the U.S., Israel, and Iran, Gold did not rally as expected and instead moved in correlation with risk assets, resembling equity behavior rather than its traditional role as a safe-haven asset [8]