Gold, Silver Prices Crash: Kevin Warsh's Fed Chair Prospect Triggers Market Panic
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News18•31-01-2026, 20:03
Gold, Silver Prices Crash: Kevin Warsh's Fed Chair Prospect Triggers Market Panic
- •Gold and silver prices plummeted globally after reports of Kevin Warsh being a frontrunner for the US Federal Reserve chairmanship.
- •On January 30, 2026, MCX saw gold drop by Rs 13,000/10 grams and silver by Rs 60,000/kg, hitting lower circuits.
- •Warsh is perceived as a 'hawkish' policymaker, favoring tough stances against inflation, which strengthens the dollar and negatively impacts bullion.
- •His potential nomination led to a stronger dollar, triggering massive profit-taking and panic selling in the commodity market.
- •Despite the crash, experts suggest it might not be a complete trend reversal, with global uncertainties potentially bringing back interest in gold and silver.
Why It Matters: Kevin Warsh's potential Fed Chair nomination, seen as hawkish, caused a sharp gold and silver price crash.
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