Lates News

Affected by factors such as profit taking, short-term futures traders closing long positions, etc., international gold and silver prices continued to plummet on January 30, marking the largest single-day drop in decades. Market analysis believes that President Trump's nomination of former Federal Reserve Board member Kevin Warsh as the next Fed Chairman on the 30th exacerbated the sharp decline in precious metal prices. Warsh has publicly criticized the side effects of quantitative easing policies and believes that the Fed needs to cooperate more closely with the US Treasury Department. Analysts at Britannia Global Markets, a London-based asset brokerage company, stated that considering the speed and extent of the rise in precious metals in January, this pullback is not unexpected. Analysts at the British research firm Metal Focus believe that the recent surge in precious metals has been irrational, but given ongoing geopolitical risks and economic uncertainties, market sell-offs may be difficult to sustain. (CCTV News)