Silver retreated after touching a record peak above $80 an ounce on Monday while gold slipped from levels close to historic highs as investors booked profits and a market perception of reduced geopolitical risks curbed safe-haven buying.

Spot silver plunged 8% intraday, now trading at $72.72 per ounce; Spot gold sank 3% intraday, now trading at $4394.83 per ounce.

Gold and silver stocks and ETFs sank in morning trading. US Gold fell 7%; Harmony Gold, Hecla Mining, and Anglogold Ashanti fell 6%; Newmont, Agnico Eagle Mines , and Kinross fell 5%.

Hycroft Mining fell 9%; iShares Silver Trust fell 7%; Pan American Silver fell 5%.