Metal prices continue last week's rout

Group 1 - Commodities, including gold and silver, are experiencing significant declines, with gold and silver prices facing their worst one-day losses since 1980, attributed to market reactions to Kevin Walsh's nomination as Fed chair [2][10][11] - Oil prices are retreating from multi-month highs as US President Trump signals a potential de-escalation in tensions with Iran, which had previously raised geopolitical risk premiums [3][12][15] - Asian equity markets are under pressure, particularly the South Korean market, which was a strong performer last year, indicating a broader sell-off in risk assets [24][25][45] Group 2 - Kevin Walsh's nomination as Fed chair has led to a reevaluation of market expectations regarding monetary policy, particularly concerning the Fed's balance sheet and its impact on risk assets [30][31][44] - The market is reacting to increased margin requirements, which are reducing leverage and contributing to the sell-off in commodities and other risk assets [9][41] - OPEC has decided to maintain its production freeze, indicating a cautious approach to managing supply amid geopolitical tensions, with no immediate changes expected until the end of Q1 [19][20][21]