volatility

Generally, gold is seen by some investors as a way to protect against inflation and market volatility, particularly in uncertain economic times.

Some institutions have already boosted exposure to defensive assets, volatility hedging and cash buffers, expecting broader sentiment swings.

Regional banks also slumped, with investors betting that without the big trading businesses that help Wall Street firms profit off market volatility, they could be more exposed to any economic fallout of the trade dispute.

Some of the selling came from computer-driven portfolios programmed to buy up stocks when markets are calm and sell when volatility rises, said Michael Green, chief strategist at Simplify Asset Management.

Silver is poised to experience significant volatility in the weeks and months ahead as it “enters a phase of price discovery in this unprecedented range,” he said.