Summary

Gold prices plummeted and stocks dipped as the US dollar surged following reports that Kevin Warsh is the likely nominee for Federal Reserve chair. Warsh, an inflation hawk, aligns with Trump’s call for lower interest rates. The news triggered a correction after gold reached a record high on January 29th.

https://www.straitstimes.com/business/companies-markets/gold-plunges-as-bets-of-a-more-hawkish-fed-chair-rise-still-set-for-best-month-since-1980?ref=top-stories