Precious Metals Under Pressure as Rate Cut Hopes Fade, XAG/USD Drops 2% to Hit Lowest Since November
• XAG/USD declined to lowest level since November, currently at $22.14 after 2% drop • Markets adjusting expectations for Fed rate cuts, odds of March cut now below 50% • Despite some signs of recovery on 4-hour chart, overall technical outlook remains bearish • Key upcoming events central bank meetings this week, Q4 GDP and inflation data on Thursday • If data shows economy strength, could further reduce hopes for Fed cuts and weigh on precious metals