Gold, silver, and copper are experiencing a powerful speculative surge driven by global capital flows, geopolitical shifts, and declining confidence in the U.S. dollar.

The S&P 500 settled lower on Thursday as Microsoft shares sold off amid slowing cloud growth and soft margin guidance, which triggered a triple-digit loss for the tech-heavy Nasdaq as software stocks struggled.

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.