[SMM Daily Review: High Oil Prices and AI Liquidity Shock Double Blow, Silver Prices Plunge Over 5%] SMM, October 23: Geopolitical conflicts in the Middle East pushed oil prices higher, while turbulence in AI trades triggered a liquidity shock. Precious metals faced sell-offs, with silver plunging over 5% to hit a new low for the period. Falling US Treasury yields failed to provide support. In the spot market, downstream buyers held back on fears of further declines, and suppliers' efforts to hold prices firm could not prevent trading from weakening. Short-term sentiment remains subdued as the market awaits guidance from the US Fed meeting.
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