After reaching unprecedented levels the previous day, gold and silver prices took a downturn on Friday as investors decided to cash in on their gains from this year’s remarkable surge.

The price of spot gold dropped more than 4%, settling at $5,156.64 per ounce, though it remains approximately 20% higher for the year.

“A return to $5,000 with some stabilization around that mark would be typical in a bull market,” Ed Yardeni, president of Yardeni Research, explained to CNBC. “The unexpected part is how it jumped from $3,000 to $5,500 with no major setbacks … so far, this has been more of a steady climb than a classic bull market for precious metals.”

Similarly, silver declined by over 5%, falling to $110.26 per ounce, yet it still boasts a 53% increase since the start of the year.

Asia-Pacific stock markets mostly fell, tracking losses overnight in the S&P 500 and the tech-heavy Nasdaq.

Australia’s S&P/ASX 200 declined 0.65% to 8,869.1

South Korea’s Kospi inched up to 5,224.36 while the small-cap Kosdaq fell 1.29% to 1,149.44. Japan’s Nikkei 225 was 0.1% lower, closing at 53,322.85 and the Topix advanced 0.59% to 3,566.32

India’s Nifty 50 and the BSE Sensex were down 0.3% as of 2:50 p.m. local time.

Hong Kong’s Hang Seng index slid over 2% to end the trading day at 27,387.11 while the mainland CSI 300 was down 1% to 4,706.34.

Customers of HSBC, Hong Kong’s largest bank, were unable to access the lender’s mobile banking app on Friday. A bank spokesperson said services were gradually returning to normal. The bank’s shares closed 0.5% lower in Hong Kong.

Oil prices slid after U.S. President Donald Trump reportedly said that he intended to speak with Iran, even as the United States sent another warship to the Middle East and Defense Secretary Pete Hegseth said the military stood ready to act on the president’s instructions. Trump offered no details on the scope or timing of any talks, nor on who would lead them.

Global benchmark Brent lost 1.43% to $69.7 a barrel, while U.S. West Texas Intermediate futures traded 1.65% lower at $64.33 per barrel.

Futures tied to the S&P 500 were down 0.16%, as were Nasdaq 100 futures. Dow futures fell 112 points, or about 0.2%. Trump also endorsed a Senate deal to fund the vast majority of the federal government through the remainder of the fiscal year, easing near-term political uncertainty for investors.

Senators clinched a deal with just over a day until a partial government shutdown. They agreed to remove funding for the Department of Homeland Security from the package and pass the other five bills, while DHS will be funded by a stopgap.

Overnight in the U.S., the S&P 500 fell, bogged down by Microsoft, as traders reacted to the megacap technology company’s latest earnings results and the Federal Reserve’s interest rate decision.

The broad market index slipped 0.13% to close at 6,969.01, while the Nasdaq Composite declined 0.72% to end at 23,685.12. The Dow Jones Industrial Average advanced 0.11%, or 55.96 points, and settled at 49,071.56. In cryptocurrencies, bitcoin shed more than 5% and hit its lowest level in almost two months.

— CNBC’s Sean Conlon and Pia Singh contributed to this report.