Zhong Guo Jing Ji Wang·2026-01-31 02:25Group 1 - Global precious metals market experienced a panic sell-off, with silver plunging 36% and gold dropping over 12%, closing at $4,865 per ounce [1] - The significant drop in precious metals is attributed to profit-taking after record gains and a rebound in the US dollar [1] - The potential nomination of Kevin Warsh as the next Federal Reserve Chairman by Trump has negatively impacted gold and silver prices, as Warsh has criticized ultra-loose monetary policy [1] Group 2 - Trump nominated Kevin Warsh, a former Fed governor known for his hawkish stance, which has led to market speculation about future monetary policy and the independence of the Fed [2] - Market expectations suggest that the Fed may lower interest rates by 50 to 100 basis points over the next year, impacting gold prices [2] - China’s Industrial and Construction Banks announced adjustments to their personal gold accumulation business, including limits on transactions and an increase in minimum accumulation amounts [3]