Gold fell the most since October, retreating from a record above $5,500 an ounce as risk-off sentiment sparked a selloff in metals with investors using them to cover losses in other assets such as equities. Max Layton, Global Head of Commodities Research at Citi tells Bloomberg that gold and silver movement is driven more by capital allocation and momentum than traditional fundamentals. Layton adds that geopolitical risks, economic uncertainty, a weaker dollar, and concerns over deficits and tariffs are pushing investors toward precious metals. He joined the conversation on "Bloomberg Markets" with Scarlet Fu. (Source: Bloomberg)