The Federal Reserve's hawkish signals put pressure on gold and silver, with Gate XAG and XAU contracts consistently ranking among the top three in the industry for transaction volume

Due to the strong PMI data from the U.S. in September and hawkish comments from Federal Reserve officials, market expectations for interest rate cuts have significantly cooled, driving the U.S. dollar and U.S. Treasury yields to rise rapidly, putting pressure on the gold and silver markets. According to CoinGlass data, gold (XAU) is currently priced at $4,278.29, with a 24-hour decline of 1.53%; silver (XAG) is currently priced at $64.02, with a 24-hour decline of 4.00%. During this period of extreme market volatility, the trading volume of related contracts on Gate has continued to rise: the trading volume of Gate silver contracts reached $185 million in 24 hours, ranking second in the industry; the trading volume of Gate gold contracts reached $388 million in 24 hours, ranking third in the industry.