Warsh Nomination Sparks Gold and Silver Selloff
TL;DR Summary
Gold futures slipped about 3.6% to roughly $5,160/oz and silver futures tumbled around 9.5% to about $103.58/oz after President Trump named Kevin Warsh to lead the Federal Reserve, reversing a January rally driven by safe-haven demand. The dollar ticked higher as traders weigh Warsh’s hawkish history against Trump’s push for looser policy, signaling continued volatility for precious metals with key levels near $5,000 for gold and $100 for silver in the crosshairs.
- Gold and Silver Prices Fall Sharply as Trump Picks Warsh as Fed Chair. Here’s Why. Barron's
- Gold and Silver tumble as Trump's Fed Chair pick Warsh seen as preserving central bank independence CNBC
- Gold Resumes Rally After Dropping on Thursday in Choppy Session Bloomberg
- Gold and silver prices plunge as rally goes into reverse Financial Times
- ‘This doesn't seem like a store value… How are we supposed to trade this?’ – Phoenix Futures’ Grady on gold’s shock selloff KITCO
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