The price of silver fell the most sharply, dropping by more than 30% to below $85 per ounce. The decline in the silver market amounted to about $1.96 trillion.
Photo Bloomberg. Exchange data on precious metals prices
Gold, typically viewed as a safe-haven asset, also did not escape declines, with its price falling by 13.6% to below $4,900 per ounce, resulting in a total capitalization loss of $5 trillion.
The crisis also affected other platinum group metals.
Sharp price fluctuations caused panic among investors and led to mass position closures on the world's largest stock markets. Analysts link this situation to a number of macroeconomic factors but note that the speed of the decline is unique in modern financial history.
