The retreat of risk aversion triggers a long squeeze, putting pressure on gold and silver prices.

Jinse Finance reported that as tensions in the Middle East and between the US and China have eased, coupled with resilient US economic data weakening safe-haven demand, spot gold and silver plunged sharply during Thursday's Asian session. As of press time, spot silver's intraday decline expanded to 15%, and spot gold fell below $4,810 per ounce. Later this week, key US economic data will include JOLTS job openings and initial jobless claims for the week ending January 31. In terms of daily market drivers, a broadly stronger US dollar and stable US Treasury yields have also put pressure on gold prices. (Golden Ten Data)