Gold and silver erase gains amid ongoing AI speculation, losing -$1.1 trillion of market cap in 12 hours, research shows.

Investor anxiety has deepened over the accelerating impact of artificial intelligence on jobs, corporate earnings and economic stability, The Kobeissi Letter posted on X.

The sell-off followed growing acceptance of a so-called “AI doomsday” narrative, which frames artificial intelligence not merely as a productivity tool but as a macroeconomic demon.

Market participants are of the view that AI represents a broad-based technological shock rather than an efficiency upgrade. Unlike previous tech advances, AI systems are improving across multiple functions simultaneously, particularly in white-collar work such as coding, research and workflow automation.

Recent volatility has been especially pronounced following new product releases from AI companies, whose rapid advances in AI capabilities have clearly hurt global equity markets.

In several instances during 2026, shortly after major upgrades to AI tools, shares of companies across the world exposed to automation risk sold off heavily, erasing hundreds of billions of dollars in combined market value across segments of the Fortune 500, including Asian Frontier markets.

The relationship between the AI boom and precious metal trends remains a mystery, but several institutions across the globe are beginning to note there might be some connection.