The cryptocurrency sell-off affects precious metals, causing gold prices to decline.
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According to ChainCatcher, citing Golden Ten Data, gold prices fell during the Asian morning trading session under the spillover effect of the cryptocurrency sell-off. IG Chief Market Analyst Chris Beauchamp pointed out that the cryptocurrency bear market has evolved into a full-blown market rout, with widespread sell-offs sweeping across various asset classes, and commodities are also deeply mired in a downtrend.
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