Gold and silver futures tanked as US investors returned from the Presidents’ Day holiday long weekend. Precious metals have struggled to maintain momentum after a slight recovery from last month’s sharp selloff.

April gold futures plummeted $108.40, or 2.15%, to $4,936.90 per ounce at 12:34 GMT on Tuesday on the COMEX division of the New York Mercantile Exchange. Gold prices are still positive for the year, rising 14%.

Silver, the sister commodity to gold, tanked $3.799, or 4.87%, to $74.05 per ounce. The white metal has declined 18% over the past month, but remains up about 4% year-to-date.

One of the key factors behind the drop, particularly in silver, is the slide in mining stocks.

A chorus of silver mining stocks, from First Majestic Silver to Silvercorp Metals, has fallen between 2% and 4% to kick off the holiday-shortened trading week.

Silver exchange-traded funds (ETFs) were also down in premarket trading, falling as much as 7%.

That said, according to CNBC, Deutsche Bank analysts estimate that silver is trading approximately “$7 below its real adjusted price in 1790.”

A strengthening US dollar further weighed on the metals market.

The US Dollar Index (DXY), a measure of the greenback against a weighted basket of currencies, surged 0.4% to 97.28, from an opening of 96.92. The index has been gradually chipping away at its year-to-date decline, falling 1%.

A stronger buck is bearish for dollar-denominated commodities because it makes it more expensive for foreign investors to purchase.

Investors will monitor key economic data this week, including fourth-quarter GDP and the Federal Reserve’s preferred inflation measure for December. This could provide clues on whether the US central bank will reconsider restarting its easing cycle.

In other metal commodities, March copper futures declined $0.122, or 2.1%, to $5.681 per pound. March platinum futures plummeted $77.90, or 3.75%, to $1,999.20 an ounce. March palladium futures erased $22.40, or 1.32%, to $1,681.00 an ounce.