[MARKET UPDATE] Precious metals sell off continues, with spot gold lower by c. 10.5% and spot silver c. 26.5%, while Dollar continues to edges higher

Precious metals sell off continues, with spot gold lower by c. 10.5% and spot silver c. 26.5%, while Dollar continues to edges higher.

The significant sell-off in precious metals, with gold down approximately 10.5% and silver down about 26.5%, suggests investor reallocation amid a strengthening US Dollar. This shift in sentiment likely reflects broader market dynamics, indicating a preference for cash or dollar-denominated assets, which can weigh on demand for commodities, particularly in the context of inflation and interest rate expectations.