Gold, Silver, Copper Prices Plummet: Profit Booking, Strong Dollar Blamed

• Gold, silver, and copper prices saw a sharp decline on Friday after reaching record highs, primarily due to investors booking profits.
• Diminished hopes for US interest rate cuts and a strengthening US dollar contributed to the sell-off.
• US President Donald Trump's announcement of Kevin Warsh as a potential Federal Reserve head, perceived as less aggressive on rate cuts, boosted the dollar index.
• A stronger dollar makes dollar-priced metals more expensive for international buyers, reducing demand and triggering sell signals.
• Gold fell 4.7% to $5,143.40/ounce, silver dropped 11% to $103.40/ounce, and copper declined 1.1% to $13,465/metric ton after recent surges.

Why It Matters: Precious and industrial metal prices crashed due to profit booking, a strong dollar, and reduced rate cut expectations.