🟡 Gold Plunges 4% as Silver Dips to ₹3.80 Lakh
Gold and silver prices dropped sharply after markets reacted to speculation that Kevin Warsh could become the next head of the U.S. Federal Reserve. Investors fear a potentially less-dovish monetary policy stance.
Key Facts:
• Silver prices fell to around ₹3.80 lakh per kg in India after a sharp market pullback.
• Gold prices plunged about 4% during trading as investors reacted to Fed leadership rumors.
• Analysts say speculation that Kevin Warsh could replace Jerome Powell as the next Federal Reserve chair weighed on precious-metal prices.
• Despite the drop, both metals remain on track for historic monthly gains, driven by strong safe-haven demand earlier in the year.
Insight:
Gold and silver often react strongly to interest-rate expectations and central-bank policy changes. If the Fed leadership shift leads to tighter monetary policy, precious metals could face short-term pressure.
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