CoinMeta data: Gold and silver lost approximately $400 billion in paper value in just a few minutes on Wednesday, due to U.S. Treasury yields reaching their highest levels since 2002. The price of gold fell from around $4,120 to $4,066 in 15 minutes, while silver dropped from around $60.13 to $59.00. According to estimates by the World Gold Council, about 216,000 tons of gold, or roughly 7 billion ounces, have been mined throughout history. A decline of $54 per ounce for gold resulted in a reduction of its market value by about $375 billion. Silver also lost about $67 billion in this wave of metal selling. Analysts believe that 2026 could be the most turbulent year for gold.