Core Viewpoint - Precious metal futures experienced a significant drop, with silver, palladium, and platinum seeing sharp declines, indicating a shift in market sentiment and demand for safe-haven assets [2][3][11]. Price Movements - On October 17, precious metal futures continued to decline, with spot silver dropping over 6%, marking its largest decline in six months. Spot gold, after reaching a historical high, suddenly fell below $4200 per ounce [3]. - COMEX gold closed at $4267.90, down $36.70 (-0.85%); COMEX silver closed at $50.63, down $2.67 (-5.01%); NYMEX platinum closed at $1629.80, down $125.30 (-7.14%); NYMEX palladium fell over 9% to $1516 [4][7][9]. Market Sentiment - The decline in precious metals is attributed to easing concerns over geopolitical tensions, trade issues, and the quality of U.S. credit, which has reduced the demand for gold and silver as safe-haven assets [11]. - HSBC's recent report indicates that gold remains supported by strong investor sentiment and ongoing diversification by official institutions, predicting a continuation of upward trends in gold prices until 2026. However, it warns that fewer interest rate cuts by the Federal Reserve than expected could hinder gold's upward trajectory [11].