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A single Trump announcement sparks billions in losses across gold and silver

February 3, 2026

A single announcement out of Washington sent gold and silver prices plunging, erasing billions of dollars in market value and catching investors off guard almost overnight. The dizzying boom ended abruptly Friday morning after President Donald Trump confirmed Kevin Warsh as his pick to lead the Federal Reserve, sending the dollar to its strongest level in months and reshaping expectations for U.S. monetary policy. Warsh is widely viewed...

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