US Stock Market Move | Spot gold and silver rebounded sharply from oversold levels, with the decline in gold and silver stocks narrowing.

On Thursday, gold and silver stocks collectively experienced a sharp decline during trading, followed by a rebound. Gold Fields Limited Sponsored ADR (GFI.US) dropped nearly 10% at one point, but by the time of writing, the decrease had narrowed to 6.3%. AngloGold Ashanti (AU.US) fell over 11% at one point, but had narrowed to 8.13%. Kinross Gold Corporation (KGC.US) also fell by 10% initially, but had decreased to 7.10%. Newmont Mining (NEM.US) saw a 10% drop, which had reduced to 7.58%. Pan American Silver Corp. (PAAS.US) dropped over 11%, but had decreased to 8.42%. In terms of news, spot gold and silver prices experienced significant declines, with gold dropping by nearly 7% and silver falling over 13% at one point. However, by the time of writing, the decreases had narrowed to 4.72% for gold and 8.52% for silver.