Silver collapses nearly 17% in Asian market, gold cracks 3.5% as precious metals erase recent gains

Silver and gold prices have seen a significant drop, erasing recent gains. This decline follows a historic market rout and is fueled by investor concerns about US monetary policy. Analysts suggest volatility will continue until there is more clarity on interest rate decisions. Despite the current downturn, some experts believe the long-term outlook for precious metals remains positive.