Subject: Gold & Silver Dip
What Happened?
Gold and silver experienced historic declines on Friday, January 30th, with gold futures dropping 11.4% to $4,745 an ounce—the biggest intraday decline since the early 1980s . Silver fell even harder, plummeting 31.4% to $78.53, marking its worst day since March 1980 .
Why the Selloff?
The immediate trigger was Trump’s nomination of Kevin Warsh as Fed chair, which appeared to relieve concerns about the central bank’s independence and sent the dollar soaring . Warsh is perceived as more hawkish (less likely to cut rates aggressively), which strengthens the dollar and increases the opportunity cost of holding non-yielding assets like gold.
However, analysts suggest a correction was overdue after the rapid price rise, with the Warsh nomination simply providing the excuse markets were waiting for to unwind those parabolic moves
What's your next move for Gold or Silver? Just monitor as entertainment ?
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