Gold has suffered its worst week since 1983, with a drop of 3.4% to $4,494, bringing the weekly loss to 10.4%, the most severe since early March 1983. The $441 weekly dollar decline is unprecedented at any price level. This puts gold 26% below its all-time high of $5,602 and has broken the 200-day EMA, the structural dividing line between bull and bear markets. The dollar has replaced gold as the ultimate safe haven due to the Fed's hawkish stance on rate-cuting, leading to a surge in rate-hike bets and a decrease in interest rates. Silver's 45% drop from peak is the steepest since 2011, and the SLV ETF has shed over $3.6 billion in assets this year as institutional investors reduce precious metals exposure. The price of Brent crude fell to $112.19 on Friday, up 3.3% after CBS reported the U.S. is preparing to potentially deploy ground forces into Iran. Gold futures closed an eight-session losing streak that erased $441 per ounce in a single week, marking the largest weekly dollar loss in the metal's recorded history. Silver futures tumbled to $69.66, marking a third consecutive losing week with a decline exceeding 14%. Bullion-backed ETFs are on track for a third straight week of outflows.