Markets News

Gold plummeted by 12% during trading, silver recorded its largest daily drop in history!

· Trump announced the nomination of Kevin Warsh as Fed Chairman, saying it was inappropriate to ask Warsh to cut interest rates, and that rate cuts did not require pressure from the White House. Warsh is expected to gain support from Democrats and is anticipated to promote rate cuts. This news is bearish for the US dollar. · Trump believes that an agreement on Cuba is imminent, and points out that negotiations on Greenland have begun, believing that the agreement has basically been reached. This news is bearish for crude oil. · CME raises margin requirements for gold, silver, platinum, and palladium futures. This news is bearish for precious metals such as gold and silver.

TOPONE Markets Analyst

2026-02-02 08:44:14

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