[MARKET UPDATE] Metal prices extend on losses with spot gold down more than 1% and with silver slumping more than 3% during the session to return to beneath the USD 80/oz level, while copper futures also retreat as risk appetite wanes

Metal prices extend on losses with spot gold down more than 1% and with silver slumping more than 3% during the session to return to beneath the USD 80/oz level, while copper futures also retreat as risk appetite wanes.

The decline in metal prices, particularly gold and silver, signals a waning risk appetite among investors, likely driven by broader market concerns. As gold falls below the USD 80/oz mark and silver drops over 3%, this could have implications for inflation hedges and safe-haven flows, potentially influencing FX movements as well. The retreat in copper futures adds to the bearish sentiment in commodities, warranting close attention for any further shifts within the sector.