Gold and silver tumbled from their record highs on Friday as the precious metals rally cooled, with silver down more than 30% and gold down roughly 12% for the day. Intra-session, silver briefly touched $120 per ounce before pulling back to around $75, a decline of about 35%, while gold retreated from a high near $5,600 to about $4,718. The sharp pullback in the metals appeared to siphon risk capital away from crypto, though Bitcoin managed to hold near key support around $83,000.
Bitcoin was trading around $83,000, not far from the week’s lows near $81,000, as equities also softened. The broader market dynamic—risk capital rotating away from high-flyer assets into traditional commodities—has been cited by traders as a potential setup for a later crypto rebound if flows realign.
Analysts say the shift could herald a broader rotation back into risk assets, with some crypto bulls arguing that a commodity-led pullback may leave room for Bitcoin to catch up. In the meantime, the response to macro developments, including leadership changes at the Fed, has contributed to ongoing volatility in both gold and crypto markets as traders reassess risk and repricing.
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