Gold and Silver crash: Why are gold and silver prices falling today? Gold prices crash 2.3% to $4,981 while silver plunges 8.8%

Gold and Silver crash: Gold prices fell 2.3% to $4,981 today. Silver plunged 8.8% in a sharp market sell-off. Investors are reacting to strong US jobs data. The US added 130,000 jobs in January. Unemployment dropped to 4.3%. This reduced hopes of an early Federal Reserve rate cut. The US dollar strengthened. Higher rates hurt gold and silver prices. Traders are booking profits after a strong rally. Volatility may continue.