[MARKET UPDATE] Metal prices extend on losses with spot gold down by over 3% after selling was exacerbated following a break beneath USD 4,400/oz, while spot silver leads the declines after dropping as much as 4%

Metal prices extend on losses with spot gold down by over 3% after selling was exacerbated following a break beneath USD 4,400/oz, while spot silver leads the declines after dropping as much as 4%.

The significant drop in metal prices, particularly gold falling over 3% and silver dropping by as much as 4%, suggests a shift in market sentiment, likely driven by increased selling pressure after gold price broke below the USD 4,400/oz level. This decline could signal a broader risk-off sentiment among investors, impacting inflation expectations and potentially flowing through to currency and equities as well.