Gold and Silver Shed $1.05 Trillion in a Day as Bitcoin Holds Firm
- —Gold slid 2.9%, falling below $4,200 per ounce
- —Silver dropped nearly 5% to around $61.11
- —Combined one-day losses for the two metals reached about $1.05 trillion
- —Bitcoin held firm during the precious-metals selloff
Why it matters: Capital rotating out of gold amid Fed rate-hike expectations could strengthen the case for Bitcoin as an alternative store of value.
Source: Coinotag