Why Trump's pick for Fed chair is causing gold and silver to tumble from records
Business
The rally pushing gold and silver to new records finally stumbled on Friday as markets reacted to Donald Trump's pick to run the Federal Reserve. Kevin Warsh , a former Fed Governor, will replace Jerome Powell this year if confirmed by the Senate. The news sent metals tumbling on Friday as investors repriced their outlook for monetary policy and the so-called debasement trade that's helped gold'd record-setting rally took a hit. Gold , which is still up more than 70% in the last year, dropped 7%
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