[Analysis: Fed Rate Hike Expectations Rise, Spot Gold and Silver Plunge] According to Gate data, spot gold and silver prices fell sharply. Spot gold broke below the $3,900 mark, falling to $3,897.48 per ounce, a 3.08% drop on the day. Spot silver fell 5.90% intraday to $49.09 per ounce, breaking below the $50 mark. Platinum fell 4.22% to $1,425.20 per ounce. Foreign media analysis points out that the Federal Reserve on Wednesday maintained interest rates at 3.75% to 4.00% by a 10-2 vote, but two officials advocated for an immediate rate hike. US third-quarter GDP growth of 3.4% and personal consumption expenditure (PCE) inflation reaching 3.6% further strengthened market expectations for a Fed rate hike in December. It is worth noting that this round of gold and silver selling was not driven by a stronger dollar or rising US Treasury yields. Both the US dollar and US Treasury yields declined on the day, with funds shifting to the bond market after a sell-off in technology stocks. Gold and silver bucked the trend and fell sharply, indicating that the market may be experiencing a liquidity-driven sell-off, with investors forced to liquidate highly liquid precious metal assets to cover losses in other assets. Meanwhile, the gold-silver ratio rose to 79.4, reflecting that silver's decline was significantly stronger than gold's.