Analyst: Market Movements Influenced by Reports of Warsh Potentially Succeeding as Fed Chair, Gold and Silver Prices Fall

Odaily According to analysts, gold and silver prices fell following news that Kevin Warsh is being considered by Trump for the position of next Federal Reserve Chair. Analysts from Maybank stated in a foreign exchange research and strategy report, "Warsh has long been critical of extremely accommodative monetary policy and previously served as a Fed governor, so the market may be pricing in the potential impact his appointment could have on the future policy path." (Jin10)