February has seen a significant downturn in the precious metals market following record highs earlier in January, prompting drastic changes in sales practices among coin retailers.
After a vibrant start to the year with soaring prices of precious metals, February has brought a harsh correction in the market, especially for gold and silver. At the end of January, gold prices exceeded $5,300 per ounce, while silver approached $120, only to experience a sharp decline shortly thereafter. Analysts like HSBC's James Steel have noted that these price fluctuations have severely impacted the entire supply chain, reflecting a turbulent market for both investors and retailers.
