Core Viewpoint - Gold and silver prices continue to decline sharply following the nomination of Kevin Warsh as the Federal Reserve Chairman by President Trump, triggering hawkish market expectations and panic selling of precious metals [1]. Group 1: Market Impact - Gold-related ETFs opened with a limit down, reflecting the negative market sentiment [1]. - All listed gold ETFs experienced a decline of 10% in their prices, indicating a significant market reaction to the news [2]. Group 2: Investment Insights - Analysts suggest that the primary function of gold is not to generate profit but to serve as a store of value and a hedge against risks, closely tied to geopolitical uncertainties, U.S. monetary policy, and global economic conditions [2]. - Investors are advised against blindly trying to buy the dip in gold prices, emphasizing the need for a cautious approach [2].