Gold Falls 1.9%, Silver Drops 5.4%, Copper Down Over 5.2%

The scale of the silver and copper declines—roughly triple gold's move—points to a broader industrial and cyclical repricing rather than a pure precious-metals story, with copper's slide carrying more macro signal than gold's. Equity indices for miners falling less than the metals themselves suggests the selloff was concentrated in futures rather than a full risk-off rotation. Whether silver and copper keep underperforming gold, or converge back toward it, is the open question.