Gold Drops 2% and Silver Tumbles 4% in Sharp Precious Metals Selloff

Precious metals came under sharp selling pressure on April 28, with spot gold's intraday decline widening to over 2% to trade at $4,582.05 per ounce and spot silver falling 4% to $72.42 per ounce, according to Bitget data.The simultaneous drop in gold and silver arrives on the same day WTI crude surged 4.54% through $103 per barrel and Brent broke $105 -- an unusual divergence between energy and precious metals that suggests active portfolio repositioning rather than a straightforward risk-off or risk-on move.