Precious metals slump on recession fears.

Gold and silver prices fell due to concerns about an economic recession being on the horizon, despite safe-haven demand amid marketplace uncertainty. Weaker US economic data and fresh banking jitters have reignited recession fears. The US dollar index and US Treasuries saw better demand on safe-haven bids. The Bank of England raised its main interest rate by 0.25%, as expected. Copper prices also fell, hitting a 5.5-month low.