Gold and silver are getting crushed

Gold and silver are getting crushed.

Silver fell as much as 5.49% to a one-month low of $US16.27 an ounce in trading on Tuesday, according to Reuters. Gold fell as much as $US10 an ounce (or 1.09%) to $US1213.70.

Bloomberg reported that ahead of the Chinese Lunar New Year on February 19, investors are speculating there will be weaker demand for precious metals.

Here’s a chart of the slump in silver:

And in gold:

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