[MARKET UPDATE] Precious metals extend on recent declines with spot gold down around 0.5%, while silver leads the declines with losses of around 1.3% to trade beneath USD 83/oz

The recent declines in precious metals, with gold down approximately 0.5% and silver losing 1.3%, suggest a weakening demand in a context where USD strength may be impacting commodity prices. This trend could reflect broader risk sentiment or shifts in investor positions, especially if likelihood of tighter monetary policy persists. Watch for how these metals perform against currency fluctuations and future economic data releases, as they could indicate further direction.