Gold and silver prices down today: 2 factors sending safe haven assets plummeting amid Iran war

It’s another bad day for gold and silver. Traders in precious metals are seeing both gold and silver plummet significantly as the week kicks off, with gold down nearly 7% and silver down 8% over the past 24 hours. Worse, gold has now fallen nearly 20% since its all-time high of over $5,586 in January. Silver is down even more, falling more than 44% since its all-time high earlier this year of over $121. Here’s what you need to know. The ‘safe haven’ trade is absent Silver and especially gold are generally considered “safe haven” assets—assets investors turn to when economic uncertainty abounds, and they want to park their money in a valuable that isn’t likely to fluctuate much, or at least not go down in value significantly.   Safe haven assets like gold and silver contrast with other assets like stocks and cryptocurrencies, which are traditionally more volatile, especially in times of economic uncertainty. Given their safe-haven status, it’s natural to assume that the geopolitica