Wash hawks expected to trigger a full collapse of goods, gold and silver reappear in an epic washout.

On Monday, the commodity market saw a comprehensive decline, with gold, silver, crude oil, and industrial metals leading the way. CBA commodity strategist Vivek Dhar stated, "The market has decided to sell off precious metals while selling off US stocks, indicating that investors believe Powell is taking a more hawkish stance. In addition, the strong US dollar has also put pressure on precious metals, as well as other bulk commodities including crude oil and base metals." However, he still insists on his prediction that gold prices will reach $6000 in the fourth quarter. Asian stock markets followed the sharp decline in US stock futures, and the chaotic selling in the precious metals market added tension to the beginning of the week, which is filled with corporate earnings reports, central bank meetings, and economic data. Dhar said, "The key issue is whether this signifies the beginning of a structural decline in commodity prices, or is it just a correction. We consider this a correction and a buying opportunity, rather than a fundamental shift."