Gold, silver extend losses as US inflation concerns weigh on rate-cut hopes

This is a Rate / liquidity policy event. Rate direction moves bank margins and the discount rate applied to every long-duration asset. The commentary usually matters more than the decision, which is often already priced.

Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.