Warsh hawkish expectations triggered a across-the-board commodity collapse, with gold and silver experiencing another epic sell-off.

Commodity markets declined across the board on Monday, with gold, silver, crude oil, and industrial metals leading the losses. CBA commodity strategist Vivek Dhar stated, "The market's decision to sell precious metals alongside US stocks suggests that investors perceive Warsh as more hawkish. Furthermore, a stronger dollar has also put pressure on precious metals and other commodities, including crude oil and base metals." However, he maintains his forecast that gold prices will reach $6,000 in the fourth quarter. Asian stocks followed US stock futures sharply lower, and the chaotic sell-off in precious metals added tension to the start of a week packed with corporate earnings reports, central bank meetings, and economic data. Dhar stated, "The key question is whether this marks the beginning of a structural decline in commodity prices or is merely a correction. We believe this is a correction and buying opportunity, rather than a fundamental shift." (Jinshi)