The post Precious Metals, Uranium Prices Slide on Markets appeared on BitcoinEthereumNews.com.

The S&P/ASX 200 traded 39 points lower to close at 8,889.2 on Thursday, snapping a two-day winning streak as global risk sentiment weakened. Investors pulled back after a sharp overnight sell-off tied to US earnings, pushing the benchmark index down 0.43% by the close.  The decline followed mixed leads from Wall Street, where gains in the Dow Jones failed to offset continued pressure on technology stocks. AMD Earnings Shock Hits Global Sentiment Market sentiment shifted after Advanced Micro Devices shares plunged 17.3% to $200.19 following its earnings release. Investors reacted to weaker-than-expected guidance for the first quarter of fiscal 2026, which raised doubts about the pace of artificial intelligence-driven data centre expansion. That reassessment quickly spread across global markets, including Australia, where growth-linked sectors faced renewed selling pressure. Uranium Weakness Drags Materials Lower The materials sector led losses on the ASX after uranium futures dropped 5.09% overnight to about US$86 per pound. Prices now sit roughly 15% below last week’s peak, triggering aggressive selling across uranium-linked equities.  Bannerman Energy slid 10.54% to $3.81, while Paladin Energy fell 9.87% to $12.24. Boss Energy declined 8.74% to $1.59 as investors reassessed demand expectations tied to data centre energy needs. Source: X Energy Stocks Slide on Geopolitical Shifts Energy shares also retreated after reports confirmed that US-Iran nuclear talks would resume on Friday, with the venue shifting from Turkey to Oman. The renewed diplomatic engagement weighed on oil price expectations, pressuring local producers.  Beach Energy dropped 3.78% to $1.20, Santos eased 0.71% to $6.99, and Woodside slipped 0.25% to $25.78 as traders trimmed exposure. Volatility returned to precious metals markets after a brief period of calm. Silver prices plunged as much as 15%, touching $73.50, while gold fell 3.3% to a low of $4,789. Those moves erased much of the previous session’s gains…

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Filed under: News - @ February 5, 2026 8:25 am