Gold and Silver Plunge in Worst Day Since 1980

A violent selloff Friday sent silver prices crashing and gold futures to their biggest one-day dollar decline on record, the latest twist of wild trading that has left precious metals swinging like meme stocks. 

For months, a gravity-defying rally had pushed gold and silver prices to all-time highs, enticing speculators and sparking fears that investors the world over were losing faith in traditional currencies like the dollar. Starting Thursday night, the air finally came out.