[MARKET UPDATE] Precious metals retreat with spot gold down more than 1% as it pulls back from the USD 5,200/oz level, while silver dropped by around 3% with headwinds seen amid a firmer dollar post CNY-fix

Precious metals retreat with spot gold down more than 1% as it pulls back from the USD 5,200/oz level, while silver dropped by around 3% with headwinds seen amid a firmer dollar post CNY-fix.

Gold and silver prices are retreating as gold pulls back from the $5,200/oz level, indicating increased selling pressure. The firmer dollar, particularly after the Chinese Yuan fix, is contributing to headwinds for these precious metals, suggesting a potential for further downside unless the dollar weakens or demand strengthens.