Last night, gold, silver, copper, and oil prices plummeted, marking a rapid correction in the global commodity markets. Gold and silver fell in unison, trading volumes surged, and market risk sentiment instantly reversed — this is not just a normal technical pullback.

Three factors combined to trigger this sharp decline:

First, profit-taking after previous gains. Once market sentiment shifted, chasing high prices prompted immediate panic selling. Second, the US dollar index unexpectedly rebounded. Market expectations for Federal Reserve monetary policy changed, and the dollar's appreciation directly suppressed dollar-denominated commodity prices. Lastly, technical breakdowns — after key support levels were breached, automated trading systems triggered a large number of stop-loss orders, further intensifying the sell-off.

Every deep correction in a bull market is worth reflection. Historical experience shows that intense shakeouts often clear the way for the next upward move. But for traders who were fully long and chasing highs, last night has become a painful lesson.

An interesting paradox is: when even safe-haven assets are volatile, where can truly be considered a safe harbor? This question is asked anew with every market crisis.