Gold and silver slide up to 3%, dragging Hindustan Zinc down nearly 3% and Muthoot Finance about 2%

Global precious metals sold off sharply, with spot gold down as much as 1.2% to below $4,140 an ounce and silver sinking 2.8% to $63.25, while platinum and palladium also fell. The move was driven by stickier-than-expected U.S. inflation, hawkish comments from Chicago Fed President Austan Goolsbee and former Fed Governor Kevin Warsh, and a firmer dollar. Gold is down roughly 20% since late February and silver has slid more than 30%. Investors are now waiting for the U.S. PCE price index due later this week to gauge the interest-rate path.