Gold and silver prices dropped sharply after reports surfaced that Donald Trump is expected to nominate Kevin Warsh as the next Chair of the Federal Reserve. The news quickly unsettled financial markets and sparked heavy selling in precious metals.
Investors reacted to the possibility that Warsh could support tighter monetary policy and higher interest rates. Such a move would likely strengthen the U.S. dollar, making gold and silver less attractive in the short term. As a result, both metals saw noticeable losses soon after the announcement circulated.
Market analysts say the reaction reflects growing uncertainty about the future direction of U.S. monetary policy. Traders are adjusting their positions ahead of any official confirmation, leading to increased volatility across commodities.
Until there is more clarity from policymakers, gold and silver are expected to remain under pressure, with prices sensitive to further political and economic developments.
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