According to CoinMeta, analysis indicates that on October 30th, the prices of spot gold and silver tumbled significantly. Spot gold fell below the $3,900 mark, dropping to $3,897.48 per ounce, a decrease of 3.08% for the day. Spot silver also saw a decline of 5.90%, reaching $49.09 per ounce and breaking below the $50 level. Platinum fell by 4.22%, to $1,425.20 per ounce. Foreign media analysis suggests that the Federal Reserve maintained its interest rates at 3.75% to 4.00% on Wednesday with a vote of 10 to 2, but two officials advocated for an immediate interest rate hike. The U.S. economy grew by 3.4% in the third quarter, and personal consumption expenditure (PCE) inflation rate reached 3.6%, further reinforcing market expectations for a Fed interest rate hike in December. Notably, this round of selling off gold and silver was not driven by a stronger dollar or rising U.S. Treasury yields; in fact, both the dollar and Treasury yields declined on that day. After tech stocks faced selling pressure, funds shifted to the bond market. The contrarian decline in gold and silver suggests that the market may be experiencing a liquidity-driven sell-off, with investors forced to liquidate precious metals, which are considered more liquid, in order to make up for losses on other assets. Meanwhile, the gold-silver ratio rose to 79.4, reflecting that silver's decline was more pronounced than that of gold.