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Precious Metals Retreat as Trump Nears Fed Chair Decision

Precious Metals Retreat as Trump Nears Fed Chair Decision

Author:

Global Cryptocurrency

Published:

2026-01-30 12:42:02

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BTCCSquare news:

Gold and silver futures plunged 5.6% and 14% respectively amid dollar strength and anticipation of Kevin Warsh's likely nomination as Federal Reserve chair. The metals' January rally—gold's strongest since 1980—collided with technical indicators flashing overbought signals, including gold's RSI hitting 90.

Market dynamics shifted as the U.S. Dollar Index gained 0.4%, pressuring dollar-denominated assets. Warsh's hawkish reputation looms over the metals market, where gold had climbed 17% year-to-date on safe-haven demand.

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