Spot prices of gold have fallen around 24% from a record high of around $5,400/ounce in January 2026 and are now trading near $4,085/ounce. Spot silver has plunged nearly 47% from its peak of $117/ounce. In the June quarter alone, gold lost almost 12%, its steepest decline since December 2016, while silver plunged 17.6%, its sharpest fall since June 2022.