Dear traders , $XAU and $XAG prices fell steeply as markets swiftly adjusted their predictions for interest rates and the value of the U.S. dollar. A possible Warsh-led Fed is characterized as more hawkish on inflation and tightening if price pressures persist; that sentiment pushed yields higher and the dollar stronger. That is often a headwind for precious metals: higher yields increase the opportunity cost of owning non-yielding assets like gold and silver, and a stronger dollar means it is more expensive to buy them for foreign buyers. Consequently, traders decreased hedges and safe-haven exposure, leading to a rapid, momentum-based decline rather than a gradual decline based on fundamentals.