Bitcoin News
By James Thorp
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Markets got crushed yesterday. Gold and silver prices collapsed in what traders are calling the worst single-day drop in precious metals history, wiping out nearly $7 trillion in…
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Silver took the biggest beating, plunging below $85 per ounce after losing more than 25% of its value in just one trading session.
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Traders are pretty much throwing around every theory they can think of to explain the meltdown.
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Stock exchanges worldwide are dealing with the fallout as related markets get hammered by the ripple effects.
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Banks aren't talking much beyond their standard "we're monitoring the situation" statements.
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The Commodity Futures Trading Commission hasn't said a word.
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Regulatory bodies are probably going to step in soon, though nobody's making any official announcements yet.
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Warren Buffett's Berkshire Hathaway announced it won't change its precious metals holdings despite the chaos.
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The Bank of England jumped in with reassurances, saying it's ready to provide liquidity support if needed.
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Market veterans are scratching their heads trying to remember anything comparable to yesterday's carnage.
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Mining companies are getting destroyed in after-hours trading as investors bail out of anything connected to precious metals.
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The timing couldn't be worse for investors who thought they were playing it safe. Precious metals were supposed to be the hedge against inflation and market volatility, not the…
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Trading floors stayed busy late into Friday as dealers tried to make sense of the chaos and position for whatever comes next.
The Currency Analytics
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