The US dollar is nearing a four-month high as coronavirus lockdowns in Europe and potential U.S. tax hikes have hit risk appetite, leading to a flight to safety. Subsequently, metal prices have seen a straight third-day decline.

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The strength in US dollar is one of the major factors which has been weighing on various asset classes and because the US and China are two major producers and consumers of many of these metals.

There is also an understanding that the bilateral meeting between the US and China has ended on a harsh note.

Also, there are various countries like the US, the UK, etc. imposing sanctions on a few Chinese officials on protest regarding human abuse.

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(Edited by : Abhishek Jha)