Gold has slipped below $4,000 an ounce, with some reports suggesting it may have fallen as low as a 7-month low, while silver has tumbled, shedding nearly 2% or possibly as much as 2.5%. The decline appears to be driven by factors including a strong dollar and signals from the Fed, as well as uncertainty related to US-Iran relations. The drop is reportedly one of the largest in decades, with gold possibly set for its steepest daily drop since 1983.