[MARKET UPDATE] Metal prices extend on losses with spot gold now down 4.4% and spot silver down 6.0%, with the Trump admin said to be preparing for Warsh nomination

Metal prices extend on losses with spot gold now down 4.4% and spot silver down 6.0%, with the Trump admin said to be preparing for Warsh nomination.

The sharp declines in gold and silver prices, with gold down 4.4% and silver down 6.0%, signal a significant bearish trend in the metals market. This could be driven by fears or uncertainty regarding monetary policy as the Trump administration prepares to nominate Warsh, a figure known for potentially hawkish views, which may spur expectations of tightening and strengthen the USD, ultimately impacting commodity prices.