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[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

Gold and silver prices are retreating as gold pulls back from the $5,200/oz level, indicating increased selling pressure.

Newsquawk StaffPublished On the live feed at — 2 more headlines followed before this page went public
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[MARKET UPDATE] Mainland Chinese markets are firmer on return from the Lunar New Year/Spring Festival Holidays, while Hong Kong markets underperform after the prior day's rally

PBoC injects CNY 526bln via 7-day reverse repos with the rate at 1.40% for a net drain of CNY 926.4bln

[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

PBoC sets USD/CNY mid-point at 6.9414 vs exp. 6.9249 (Prev. 6.9398)

Taiwan Vice Premier says preferential terms reached with the US under tariff and trade deal would not change, and that they will have proactive talks with the US to ensure their interests protected under deals already reached with Washington

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Context

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.

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