Gold rally reverses as Warsh nomination sparks metal sell-off
TL;DR Summary
Gold and silver prices dropped sharply after Kevin Warsh was nominated as Federal Reserve chair, reversing a rally that had pushed metals to record highs; gold fell as much as 8% to about $4,957/oz, silver dropped around 15%, and platinum about 13%, with miners also lower as traders reassessed inflation and dollar risk amid global turmoil.
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