Kevin Warsh's Fed Chair Speculation Bursts Gold, Silver Bubble; Prices Plummet
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News18•31-01-2026, 19:49
Kevin Warsh's Fed Chair Speculation Bursts Gold, Silver Bubble; Prices Plummet
- •Speculation about Kevin Warsh as the next US Federal Reserve chairman caused a massive sell-off in gold and silver markets.
- •On January 30, 2026, MCX gold prices dropped by approximately 13,000 rupees per 10 grams, and silver fell by about 60,000 rupees per kilogram.
- •Silver prices on MCX hit a lower circuit after a 15% drop, halting trading; gold also saw a 6% fall and hit its lower circuit.
- •Warsh is considered a 'hawkish' policymaker, favoring tough stances against inflation, which strengthens the dollar and negatively impacts gold and silver.
- •Kevin Warsh, a former Fed Governor and M&A executive, played a key role during the 2008 financial crisis and is currently a Hoover Fellow at Stanford University.
Why It Matters: Kevin Warsh's potential Fed Chair nomination triggered a sharp decline in gold and silver prices globally.
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