US EditionGold, Silver Prices Tumble as Investors Soothed by Trump's Fed Pick
Gold dropped from a record $5,595.47 to $5,130.80 and silver fell below $104 after Trump's Fed nominee reassured investors, easing safe-haven demand, XTB research said.
- On Friday, gold and silver prices dived as investors were reassured by US President Donald Trump's Fed pick, Kevin Warsh, confirmed on Truth Social.
- The move to appoint Kevin Warsh, former Fed official, prompted concerns over Fed independence, as investors linked the nomination to market reactions and dollar movements.
- Gold traded at $5,130.80 an ounce after reaching a record $5,595.47 Thursday, while silver, which peaked above $120 then at $103.49, showed sharp reversals amid recent market volatility.
- Oil prices fell Friday while FTSE, CAC and DAX rose, and Asian stock markets closed lower for the week, reflecting mixed regional asset flows.
- Markets have endured a rollercoaster this week amid a weaker dollar, geopolitical threats and tariff warnings, while fears of stretched valuations after a tech-fuelled rally persist.
32 Articles
32 Articles
Why Trump's pick for Fed chair is causing gold and silver to tumble from records
Yoray Liberman/Getty ImagesGold and silver saw dropped from record highs on FridayGold dropped 7% early in the day while silver plunged 15%, as traders assessed Trump's pick for Fed chief.Kevin Warsh's nomination boosted the dollar and took some wind out of the debasement trade. The rally pushing gold and silver to new records finally stumbled on Friday as markets reacted to Donald Trump's pick to run the Federal Reserve. Kevin Warsh, a former F…
Gold and silver prices fall due to possible change at the top of the US Federal Reserve.
US President Donald Trump has nominated former Federal Reserve Director Kevin Warsh as a candidate to succeed Federal Reserve Chief Jerome Powell. According to the first reports on his nomination, the prices for precious metals are falling significantly.
Trump’s Fed Pick Just Made Gold and Silver Investors Cry Into Their Shiny Bars
Well, well, well. Just when you thought precious metals were going to the moon forever, reality came knocking with a big ol’ reality check. Gold and silver just took a nosedive that would make even the most seasoned roller coaster enthusiast queasy. Here’s what happened: Trump announced Kevin Warsh as his pick for Fed chair, and suddenly everyone’s favorite “apocalypse insurance” metals decided to have a very bad day. Gold dropped 7% to around $…
Key figures: Gold, silver prices tumble as investors soothed by Trump's Fed pick
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