Silver experienced its most volatile intraday movement since 2008, recovering above $110 after plunging over 7% from its record high above $117. Gold remained strong, holding around $5,100 after briefly surpassing $5,000, reflecting deep market anxiety about fiat currency stability and government debt. Investors await critical developments including the upcoming Fed chair nomination and FOMC meeting, with fiscal uncertainty driving demand for precious metals as a safe haven.