Gold has seen weekly losses for two of the past five-day periods. The 3.8% decline was the worst weekly result since mid-December.

Silver’s drop, however, made gold’s decline look like a sneeze. Silver settled at its lowest since November 2010, amassing losses of 7.2% on the week.

Analysts at VTB Capital said in a note to clients the ratio between gold and silver was at a level last seen in October 2010.