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Gold prices have dropped sharply as central bankers delivered speeches that shifted market expectations. The declines coincide with a busy economic calendar, with traders reacting to signals about the future path of interest rates. Analysts suggest comments from policymakers prompted investors to reduce safe-haven positions, moving money back toward rate-sensitive assets.

South Korea's finance minister and the Bank of Korea governor held a meeting, according to Yonhap News Agency. The regular financial chief-central banker meeting is being watched for signals on coordination between fiscal and monetary policy, particularly around inflation, currency pressures and the direction of interest rates as markets assess the country's economic outlook.

In January 1966, a US Air Force B-52 bomber carrying hydrogen bombs collided mid-air with a KC-135 tanker during refuelling off the coast of Spain, scattering nuclear weapons near Palomares. One bomb fell into the Mediterranean and took 80 days to recover, in one of the most complex search operations of the Cold War. Renewed attention to the accident continues to highlight the risks of nuclear-armed airborne alert missions and the long aftermath of contamination in the area.