Key Points
- The late-week crash in gold and silver extended into Monday’s Asian hours, keeping liquidation pressure alive.
- Both metals are now sitting on their 50-period moving averages on weekly charts, a level many traders treat as support.
- A stronger dollar, rising margin demands, and exchange curbs are colliding with an overcrowded trade.
The selloff that tore through precious metals late last week did not stop with the Friday close. It rolled into the Sunday-to-Monday overnight session, with prices whipsawing but failing to regain key levels.
On the TradingView feeds, gold’s weekly candle showed an open near $4,821.63, a high around $4,884.37, a low near $4,402.11, and a close around $4,551.21, down about 6.93%.
The daily candle told the same story, closing near $4,550.77 after printing the same $4,402.11 low, down about 6.94% on the day.
Silver’s damage was larger. The weekly candle opened near $83.120, traded up to about $87.900, sank as low as $71.300, and closed near $74.839, down about 12.13%.
The daily candle closed near $74.776, down about 12.20%. Shorter-timeframe charts showed small rebounds, with gold up about 1% and silver up about 0.7% on a four-hour view, but those bounces looked tentative after the cascade.
This follows Friday’s shock, when earlier feeds showed gold falling about 10.5% in a single session and silver about 26.7%.
Reporting around the move described it as a historic reversal, tied to a sudden reset in U.S. policy expectations after President Donald Trump nominated former Federal Reserve governor Kevin Warsh to lead the Fed.
In markets, that read as less tolerance for easy money and a stronger commitment to monetary discipline, which lifted the dollar and punished crowded inflation-hedge trades.
Once the slide began, plumbing mattered more than opinions. Margin hikes by major exchanges forced leveraged traders to post more collateral or sell.
That selling triggered more stops and more margin calls. Meanwhile, Chinese venues and regulators moved to cool speculation, tightening conditions that had helped fuel the surge.
The technical question now is whether the weekly 50-period moving averages, around $4,550 for gold and $75 for silver, can absorb the flow.
If they hold, the market may stabilize. If they fail, the rally’s most enthusiastic late buyers may discover how quickly a “can’t lose” trade becomes a trapdoor.
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