The U.S. dollar strengthened nearly 1 percent after a rough start to the year.
An employee displays gold bars at a store of the Korea Gold Exchange in Seoul, South Korea, on Jan. 26, 2026. Jung Yeon-je/AFP/Getty Images
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Gold and silver prices suffered a sharp selloff as President Donald Trump’s pick to lead the Federal Reserve eased concerns surrounding central bank independence.
Following months of speculation, the president nominated former Fed board member Kevin Warsh, a hard-money hawk who has been highly critical of the century-old institution.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
