Kevin Warsh’s nomination is seen as a catalyst that triggered profit-taking and technical selling after an extended rally in precious metals
Gold and silver prices plunged on Friday in one of their worst single-day declines in years after US President Donald Trump named former Federal Reserve governor Kevin Warsh to lead the central bank.
Gold fell 12% from its January 29 peak of roughly $5,600 per ounce to around $4,800, marking its steepest one-day loss in more than a decade, although it is still up about 65% year-on-year. Silver, which had far outpaced gold’s gains over the past year, sank more than 30% to under $80 an ounce, its worst drop…
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