Diplomacy Traffic in Markets: Sharp Decline in Gold and Silver Prices

Global Markets Face Diplomacy Traffic and Selling Pressure Geopolitical risks and uncertainties surrounding the U.S.
Federal Reserve's (Fed) monetary policy continue to weigh on global risk appetite.
A mixed outlook prevails in the markets, particularly as high valuations in technology stocks and deepening sell-offs in the software sector take their toll.
On the geopolitical front, the announcement that negotiations between the U.S.
After losing 18 percent of its value last week, silver recorded a further decline of approximately 16 percent this week, falling as low as $73.65 per ounce.
As of February 6, domestic prices in Turkey saw gram gold trading at 7,372 TL, quarter gold at 12,100 TL, and Republic gold at 49,228 TL.
Gram silver has stabilized at 100.36 TL, while spot silver stands at $78.86.
Spot platinum fell to $1,892.74 from its record high of $2,918.80 on January 26.
Expert Analysis and Market Expectations Ilya Spivak, Head of Global Macro Strategy at Tastylive, noted that risk appetite in the markets has weakened and that gold has shown a more resilient stance compared to silver during this period.
An analysis published by JP Morgan emphasized that high valuations in silver paved the way for sharp corrections during periods of risk aversion.
Bank analysts predict that the $75–$80 range could form a floor in the short term, with a potential recovery toward the $90 level expected next year.