Gold, silver and base metals sink as strong dollar triggers broad commodity selloff

Crude oil remained the only major commodity in positive territory, supported by supply disruptions linked to the Iran conflict, lower US inventories and reduced OPEC output. Meanwhile, precious metals, industrial metals and agricultural commodities fell sharply as US inflation hit a three-year high and the dollar strengthened. Gold dropped to a seven-month low, silver lost more than a quarter of its value over the past month, and several commodities retreated from highs reached earlier this year.