Precious metals sold off hard, but the logic behind each move is different. - #Gold $4,350, down around 2.3%. - #SILVER $64, down around 6.7%, its worst day in months. - #Copper slid around 2.3% from this week's record high. 🔹 Gold and silver got hit by rates. August PPI ran hot at 5.4%, oil jumped over 7% in a day, and markets now price roughly 70% odds of a Fed hike next week. The 2yr yield spiked 13.6bp to 4.57% and the dollar bounced. When cash pays more, zero yield metals bleed. Silver fell nearly three times harder than gold as crowded leveraged longs unwound on top of its industrial exposure. 🔹 Copper is a different animal. Traders had been front running a possible US tariff on refined copper, hoarding metal and pushing NY copper to a record $6.89/lb. Then reports dropped that the White House hasn't decided anything, and the tariff premium got squeezed out. The medium term story stays intact, AI data centers and grid buildout haven't gone anywhere. This looks like repricing, not reversal. ‼️👀 The August CPI print due shortly will decide what happens next. #Gold #Silver #Copper #XAUUSD #XAGUSD #XCUUSD #Commodities #CPI(BloFin Research)