Commodities markets slumped on Monday, led by deep losses in gold, silver, oil and industrial metals to extend the recent volatility that struck global markets into a new week, reversing most of this year's gains for precious metals.
Investors resumed Friday's rollercoaster ride as they assessed geopolitical developments, the latest batch of company earnings and the outlook for U.S. interest rates.
Gold slid 5% to its lowest in more than two weeks by midday, while silver fell more than 7%, following records hit by both metals last week. The markets opened with sharp losses for both.
The choice of Kevin Warsh as the next Federal Reserve (Fed) chair set off a wave of selling in risk assets that sent precious metals tumbling for a second session, reversing the whopping gains in recent weeks.
After a strong January fuelled by artificial intelligence bets, stocks headed into the opposite direction last week as traders again questioned th
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