Gold falls 4% to near $4,110; silver drops 5.7%

The breadth is the story: silver, platinum, palladium and copper all sold off alongside gold, so this reads as a broad precious-and-industrial-metals repricing rather than a gold-specific move. Silver's steeper drop shows the higher-beta end of the complex taking the harder hit, the pattern typically seen when positioning unwinds across the group. Whether the selling broadens further into copper, or stays concentrated in the precious metals, is the open question worth watching.