The precious metals markets are currently experiencing a notable correction, with a significant decline affecting both sectors. Gold is down more than $30 to around $4,822.95 an ounce, while silver is performing even weaker, crossing the $93 an ounce mark with a daily decline of 1.65%. This decline in gold and silver simultaneously suggests a broader movement in the commodity market. Investors in precious metals ETFs should keep a close eye on this bearish trend, which could have implications for short-term wealth diversification strategies.