Silver sinks from record highs as year-end profit-taking slams metals, oil climbs
Spot gold dropped 4.2% to $4,340.52 an ounce by midday in New York, while silver fell 8.4% to $72.51 after both hit record highs earlier. Platinum slid nearly 13% and palladium lost 15% as metals reversed sharply. U.S. crude rose 2.5% to $58.14 a barrel amid thin holiday trading and geopolitical concerns. The dollar slipped to 156.19 yen; U.S. 10-year yields eased to 4.124%.