On Tuesday, shares of gold and silver mining companies experienced significant declines. Gold Fields plummeted nearly 13%, while Anglogold Ashanti dropped more than 13%. Kinross fell over 10%, and Agnico Eagle Mines as well as Newmont Mining each declined close to 9%. Silvercorp Metals Inc decreased nearly 12%, Pan American Silver dropped more than 10%, and First Majestic Silver fell over 13%. The sell-off followed sharp declines in spot gold and silver prices. Spot gold fell below $5,020 per ounce, down 5.73% for the day, while spot silver traded at $79.99 per ounce, declining 10.44% during the session.