Free Republic

Call it the Post Powell Panic! After The Fed decided to do nothing at the FOMC meeting. Gold is down -12% from the peak, trading below $5,000. Silver is down -21%, trading below $100 for the first time since Friday, officially in a BEAR MARKET. Rough night in the precious metals market space. An absolute BLOODBATH. Is the top behind us? Gold -6% Silver -12% Copper -4% Platinum -13% Palladium -11% Trillions in market cap wiped out in a few hours. Powell at The Fed FOMC meeting imitating former Fed Chair Janet Yellen. And Trump has nominated Kevin Warsh for...

High-flying gold and silver took a staggering hit in overnight trading with the precious metals losing roughly $6 trillion in just 30 minutes — as oil prices surge over fears over Iran. Gold tumbled back after hitting a new record at $5,595.47 an ounce as investors rushed to assets deemed safe, including silver, which reached its own record of $120.44 an ounce. The dollar steadied after losing ground most of this week. Gold declined more than five per cent and silver plunged more than eight per cent, while copper and nickel prices also fell, as traders reassessed the market. “The...

Gold and silver prices plunged Friday, as President Donald Trump’s nomination for the next chair of the Federal Reserve, Kevin Warsh, appeared to relieve concerns about the central bank’s independence and sent the dollar soaring. Spot silver was down 28% at $83.45 an ounce, trading near its lows of the day. Silver futures plummeted 31.4% to settle at $78.53, marking its worst day since March 1980. Meanwhile, spot gold shed around 9% to trade at $4,895.22 an ounce. Gold futures dropped 11.4% to settle at $4,745.10. The sharp moves down were initially triggered by reports of Warsh’s nomination. However, they...