Gold, Silver ETFs Tumble Up to 21% Amid Easing Trump Tariff Concerns

• Gold and silver ETFs plunged on January 22, with some silver ETFs dropping up to 21% and gold ETFs falling over 12%.
• The decline follows US President Donald Trump's withdrawal of tariff threats after reaching a deal with NATO regarding Greenland.
• Trump also clarified that the US would not use military force to acquire Greenland, easing geopolitical tensions.
• Earlier, precious metals had rallied significantly due to Trump's threats and rising risk-off sentiment.
• Hindustan Zinc shares also crashed over 6% as it is India's largest silver producer; experts still prefer gold due to central bank backing and persistent geopolitical risks.

Why It Matters: Precious metal ETFs plummeted as Trump's eased tariff threats reduced geopolitical tensions, impacting safe-haven demand.