Gold and Silver Prices Plunge from Record Highs—What Investors Need to Know
Investopedia·2026-01-30 18:46
Key Takeaways Gold and silver prices tumbled on Friday as investors locked in profits after President Trump nominated Kevin Warsh to chair the Federal Reserve, allaying some of Wall Street's fears about the president's efforts to exert greater control over the independent central bank. Spot gold was recently down 10% at about $4,850 per troy ounce after hitting a record high of about $5,600 on Thursday. Silver prices, which touched an all-time high above $120 yesterday, dropped 28% to trade below $84 an oun ...