US EditionWhy Gold and Silver Crashed After Trump Named Fed Chair Pick
Gold dropped 7% and silver 15% as investors reacted to Trump's Fed chair pick, reversing metals’ strong 2025 rally driven by geopolitical tensions and dollar weakness.
- On Friday, gold and silver prices plunged, triggering a global sell-off after President Donald Trump said he would name a Fed successor, with Kevin Warsh the prediction-market favorite.
- Built-Up positioning over the past 12 months left markets, with Toni Meadows noting that gold's run to $5,000 had happened "too easily" and that the unwinding of the greenback supported gold prices.
- On exchanges, futures and mining stocks reflected sharp losses with front-month gold contracts down 5.5%, silver futures falling 11%, Endeavour Silver down 14.7%, First Majestic Silver 14.4%, and Europe's Stoxx 600 Basic Resources index 3.2% lower.
- Market analysts flagged that the sell-off spilled into broader risk assets and crypto, with Bitcoin down nearly 2% and Ethereum about $2,660 down 4%, amplifying market stress.
- Amid concerns about U.S. policy and Fed independence, analysts note President Donald Trump's trade moves could prompt reserve diversification, while Federal Reserve chair speculation drives gold and silver volatility.
73 Articles
73 Articles
The new boss of the U.S. Federal Reserve will eventually be Kevin Warsh. Donald Trump's decision reassures the world markets. In times of doubt, precious metals such as gold and silver are a good refuge. The price of these metals has therefore fallen after the US President's announcement.
The Gold & Silver Correction Finally Arrives
by Chris Marcus, Gold Seek: The gold and silver prices are in the midst of one of their largest (at least by dollar amount) moves downward this morning, which the Wall Street media is attributing to the nomination of Trump’s new Fed chair candidate. The narrative being presented is that Kevin Warsh is a more hawkish […]
First the record hunt, then the crash: The prices for gold and silver have fallen sharply. As a trigger is that Kevin Warsh has been nominated as the new head of the US Federal Reserve.
Daily Journal
Gold, silver prices tumble as investors soothed by Trump Fed pick
Gold and silver prices dived Friday and European stock markets ended the week up while Wall Street pulled back with investors reassured by US President Donald Trump's pick to take over as head of the Federal Reserve.
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