Gold pulls back from record highs as traders take profits after a steep, parabolic rally.

Silver futures topped at $121.75 and then they plunged below $107, finally stabilizing close to $110. But the size of the intraday reversal serves as a reminder that the white metal can decline even faster than it climbs.

Given the steep decline today, the software group is now trading at fresh local lows and has officially surpassed the 20% threshold from the October high to mark a new bear market.

The recent price action in the precious metals, especially silver, has been nothing short of astounding.

The markets just did something we haven't seen in decades.

The 25Q4 Y/Y blended earnings growth estimate is 64.9%. If the energy sector is excluded, the growth rate for the index is 72.0%.