PRECIOUS METALS | Fed's Hawkish Tone Leads to Sharp Decline in Precious Metals Futures

The Federal Reserve's hawkish stance has prompted bond traders to abandon expectations of a U.S. interest rate cut this year, leading to a significant drop in precious and non-ferrous metals futures. According to Jin10, the market reaction saw Shanghai silver futures plummet by over 14% at one point. The shift in sentiment reflects growing concerns about tighter monetary policy and its impact on commodity prices. Traders are closely monitoring the Fed's signals for further guidance on interest rates and economic outlook.