TechFlow News: On February 2, according to JINSHI Data, commodity markets plunged across the board on Monday, with gold, silver, crude oil, and industrial metals leading the decline. Vivek Dhar, Commodities Strategist at CBA, stated: “Markets decided to sell off both U.S. equities and precious metals simultaneously, suggesting investors view Wally as more hawkish. Additionally, a stronger U.S. dollar is pressuring precious metals as well as other commodities—including crude oil and base metals.” Nevertheless, he maintains his forecast of gold reaching $6,000 per ounce in Q4. Asian equities followed U.S. equity futures sharply lower, and the chaotic selloff in precious metals added tension to the start of a week packed with corporate earnings reports, central bank meetings, and economic data. Dhar added: “The key question is whether this marks the beginning of a structural decline in commodity prices—or merely a correction. We believe this is an adjustment and a buying opportunity, not a fundamental shift.”
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