Gold and silver prices were volatile Monday following a sharp selloff at the end of last week.

Silver futures slipped slightly after plunging 28% on Friday, while gold fell more than 3% after dropping nearly 10% and falling below $5,000 an ounce.

The selloff was driven by a stronger U.S. dollar, higher margin requirements, and market reassessment after President Trump nominated Kevin Warsh as the next Federal Reserve chair.

Analysts said the pullback reflects profit-taking and a correction after an extraordinary rally rather than a collapse of the longer-term bullish outlook, CNBC has reported.

Both metals remain higher for the year, and experts say prices could rebound if the dollar weakens or monetary policy turns more dovish.