Gold and Silver Crash 12% and 27% After Trump Picks Kevin Warsh for Fed Chair

Gold and silver prices plunged on Friday after President Donald Trump announced Kevin Warsh as his nominee to head the Federal Reserve. The drop erased weeks of speculative buying, sending gold down more than 12 % and silver almost 27 % in a single session, while the dollar strengthened and Treasury yields stayed flat. Analysts say the market had been pricing in a potential political shake‑up at the Fed; Warsh’s appointment removed that risk, prompting massive profit‑taking and a rapid correction in the precious‑metal sector.

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