Spot gold prices have continued to decline, with the latest drop reaching 3% to $3,016.79 per ounce. Earlier in the day, gold prices had fallen by 2% to $3,050.74 per ounce, and at one point, the decline was reported at 1% to $3,081.6 per ounce. Silver prices have also seen significant declines, with spot silver falling nearly 7% to $29.45 per ounce. Earlier reports indicated a drop of nearly 3% to $30.87 per ounce, and silver prices broke below $30 per ounce. The declines in precious metal prices coincide with broader market downturns, with the S&P 500 down 4.2%, the NASDAQ down 4.4%, and the Dow Jones Industrial Average down 3.7%.