- Silver futures plummeted 31.4% to settle at $78.53, marking its worst day since March 1980.
- The sharp moves down were initially triggered by reports of Warsh’s nomination. However, they gained steam in afternoon U.S. trading as investors who piled into the metals raced to book profits.
- Metals were also under pressure as the dollar spiked higher.
Gold and silver prices plunged Friday, as President Donald Trump’s nomination for the next chair of the Federal Reserve, Kevin Warsh, appeared to relieve concerns about the central bank’s independence and sent the dollar soaring.
Spot silver
was down 28% at $83.45 an ounce, trading near its lows of the day. Silver futures plummeted 31.4% to settle at $78.53, marking its worst day since March 1980.
https://www.cnbc.com/2026/01/30/silver-gold-fall-price-usd-dollar-fed-warsh-chair-trump-metals.html