Silver Rises Over 120% YTD 
Gold prices dropped 2.2% to $3,305.79 on Wednesday, backing away from the record high of $3,500.05 reached the previous day.
This decline coincided with a shift in market sentiment after two key statements from President Trump: reassurance that he wouldn’t fire Fed Chair Powell despite recent criticism, and optimism about progress with China that could substantially lower tariffs.
According to market analyst Phillip Streible, investors are rotating out of safe haven assets like gold and back into specific stocks. Despite this correction, which found support at $3,292, gold remains in a strong uptrend, having gained more than 26% since early 2025 due to central bank buying and tariff war concerns.
Meanwhile, other precious metals like silver, platinum, and palladium showed modest gains.
