Summary

Gold and silver prices experienced significant declines, with gold dropping nearly 2% and silver dipping 1%, following the nomination of Kevin Warsh as a potential successor to Federal Reserve Chair Jerome Powell. Analysts attribute the sell-off to concerns about the Fed’s independence and potential changes in monetary policy, particularly regarding the size of the Fed’s balance sheet. Despite the downturn, some analysts remain optimistic about the long-term outlook for gold and silver, predicting price increases by the end of the year.

https://www.cnbc.com/2026/02/02/gold-silver-oil-prices-fed-warsh-markets-investors.html