The selloff in gold and silver had been anticipated to some degree given the surge in prices. Both metals soared 8.92% and 28.72% in April, respectively, and many traders had been looking for an overbought correction.
Kinross Gold (KGC) stock and gold prices were sliding on Tuesday as a stronger U.S. dollar weighed on the metal.
Kinross Gold (KGC) stock was falling alongside gold prices as the U.S. dollar rallied on Thursday.
U.S. stocks fell deep into the red as a selloff in gold prices pulled the materials sector into a spiral.